First Citizens Bank & Trust Co. Buys 95 Shares of Genuine Parts (NYSE:GPC)

First Citizens Bank & Trust Co. increased its position in Genuine Parts (NYSE:GPC) by 5.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,711 shares of the specialty retailer’s stock after purchasing an additional 95 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Genuine Parts were worth $239,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. WD Rutherford LLC purchased a new position in shares of Genuine Parts during the first quarter valued at $26,000. Thompson Investment Management Inc. purchased a new position in Genuine Parts during the 1st quarter valued at about $35,000. Stephens Consulting LLC increased its position in Genuine Parts by 740.7% during the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 200 shares during the period. Manchester Capital Management LLC raised its holdings in shares of Genuine Parts by 36.1% in the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 66 shares in the last quarter. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Genuine Parts in the 2nd quarter worth approximately $40,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Trading Down 0.0 %

NYSE GPC opened at $143.14 on Tuesday. Genuine Parts has a one year low of $126.35 and a one year high of $164.45. The firm has a 50 day simple moving average of $138.97 and a 200-day simple moving average of $143.12. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. The firm has a market cap of $19.94 billion, a price-to-earnings ratio of 15.96 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last posted 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 business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. During the same quarter in the prior year, the business earned $2.44 earnings per share. The firm’s quarterly revenue was up .8% on a year-over-year basis. Equities research analysts anticipate that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were given a $1.00 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 2.79%. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GPC. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group reduced their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on Genuine Parts from $157.00 to $162.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Wedbush reduced 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. Finally, Truist Financial restated a “buy” rating and set a $164.00 price objective on shares of Genuine Parts in a research note on Wednesday, August 28th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Genuine Parts has a consensus rating of “Hold” and an average target price of $157.29.

Genuine Parts Company 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.