Genuine Parts (NYSE:GPC) Shares Sold by Whittier Trust Co.

Whittier Trust Co. decreased its holdings in Genuine Parts (NYSE:GPC) by 2.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 19,655 shares of the specialty retailer’s stock after selling 534 shares during the quarter. Whittier Trust Co.’s holdings in Genuine Parts were worth $2,719,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GPC. WD Rutherford LLC acquired a new stake in shares of Genuine Parts during the first quarter worth approximately $26,000. Assetmark Inc. grew its holdings in Genuine Parts by 109.1% during the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 96 shares in the last quarter. Union Savings Bank increased its position in shares of Genuine Parts by 100.0% in the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. Thompson Investment Management Inc. acquired a new stake in shares of Genuine Parts in the 1st quarter valued at about $35,000. Finally, Stephens Consulting LLC lifted its position in shares of Genuine Parts by 740.7% during the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on GPC. Wedbush lowered their price objective on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. UBS Group lowered their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. The Goldman Sachs Group dropped their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Evercore ISI dropped their target price on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Genuine Parts currently has a consensus rating of “Hold” and an average price target of $161.14.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $142.28 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. The firm has a market capitalization of $19.82 billion, a PE ratio of 15.86 and a beta of 0.92. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $164.45. The business’s fifty day moving average price is $139.02 and its two-hundred day moving average price is $146.23.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The firm’s revenue was up .8% on a year-over-year basis. During the same period last year, the business earned $2.44 EPS. On average, research analysts expect that Genuine Parts will post 9.36 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.81%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Genuine Parts Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.