Richardson Financial Services Inc. Sells 285 Shares of Genuine Parts (NYSE:GPC)

Richardson Financial Services Inc. lessened its position in Genuine Parts (NYSE:GPC) by 26.1% during the 2nd quarter, Holdings Channel reports. The firm owned 805 shares of the specialty retailer’s stock after selling 285 shares during the quarter. Richardson Financial Services Inc.’s holdings in Genuine Parts were worth $111,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GPC. Wedbush dropped their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. Truist Financial reaffirmed a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a report on Wednesday, August 28th. UBS Group decreased their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Finally, Evercore ISI lowered their price objective on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and a consensus target price of $161.14.

Genuine Parts Trading Up 0.8 %

Shares of GPC opened at $139.14 on Friday. The stock’s fifty day simple moving average is $139.71 and its 200-day simple moving average is $145.46. The firm has a market capitalization of $19.38 billion, a PE ratio of 15.51 and a beta of 0.90. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $164.45. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) 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 business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same quarter in the previous year, the company posted $2.44 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, research analysts predict that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is currently 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.