Wealthspire Advisors LLC Sells 409 Shares of Genuine Parts (NYSE:GPC)

Wealthspire Advisors LLC trimmed its holdings in Genuine Parts (NYSE:GPC) by 5.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,620 shares of the specialty retailer’s stock after selling 409 shares during the quarter. Wealthspire Advisors LLC’s holdings in Genuine Parts were worth $1,054,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Manchester Capital Management LLC lifted its position in shares of Genuine Parts by 36.1% during the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 66 shares in the last quarter. North Star Investment Management Corp. lifted its holdings in Genuine Parts by 8.5% during the 1st quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock worth $138,000 after buying an additional 70 shares in the last quarter. CHICAGO TRUST Co NA boosted its position in Genuine Parts by 3.6% in the 1st quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock valued at $316,000 after buying an additional 71 shares during the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of Genuine Parts by 4.9% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock valued at $224,000 after buying an additional 75 shares during the period. Finally, HBK Sorce Advisory LLC raised its position in shares of Genuine Parts by 1.8% during the first quarter. HBK Sorce Advisory LLC now owns 4,437 shares of the specialty retailer’s stock worth $689,000 after acquiring an additional 80 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Trading Up 0.8 %

NYSE GPC opened at $137.35 on Monday. 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 stock’s 50-day moving average is $139.38 and its 200-day moving average is $145.68. Genuine Parts has a one year low of $126.35 and a one year high of $164.45. The firm has a market cap of $19.13 billion, a P/E ratio of 15.31 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results 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). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The company had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.03 billion. During the same period in the previous year, the firm posted $2.44 EPS. The business’s quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts anticipate that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company 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 $1.00 dividend. 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 2.91%. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Analyst Ratings Changes

Several research analysts have recently issued reports on GPC shares. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. Wedbush lowered their target price on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Evercore ISI cut their price target on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research note on Wednesday, July 24th. The Goldman Sachs Group decreased their price objective on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Finally, Truist Financial restated a “buy” rating and set a $164.00 target price on shares of Genuine Parts in a report on Wednesday, August 28th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Genuine Parts has an average rating of “Hold” and an average target price of $161.14.

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.