Genuine Parts (NYSE:GPC) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its position in Genuine Parts (NYSE:GPC) by 25.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 27,377 shares of the specialty retailer’s stock after selling 9,432 shares during the period. Amalgamated Bank’s holdings in Genuine Parts were worth $3,824,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Norden Group LLC acquired a new stake in shares of Genuine Parts in the first quarter valued at approximately $390,000. Nordea Investment Management AB boosted its stake in Genuine Parts by 4.4% during the 1st quarter. Nordea Investment Management AB now owns 9,300 shares of the specialty retailer’s stock worth $1,445,000 after purchasing an additional 392 shares during the period. Geneos Wealth Management Inc. grew its position in Genuine Parts by 195.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,981 shares of the specialty retailer’s stock worth $307,000 after purchasing an additional 1,311 shares during the last quarter. Empirical Finance LLC increased its stake in Genuine Parts by 3.4% in the first quarter. Empirical Finance LLC now owns 5,119 shares of the specialty retailer’s stock valued at $793,000 after purchasing an additional 169 shares during the period. Finally, Empowered Funds LLC raised its holdings in shares of Genuine Parts by 45.9% in the first quarter. Empowered Funds LLC now owns 2,472 shares of the specialty retailer’s stock valued at $383,000 after buying an additional 778 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Price Performance

GPC stock opened at $122.41 on Friday. The firm has a 50 day moving average of $132.47 and a 200-day moving average of $139.90. The company has a market cap of $17.02 billion, a price-to-earnings ratio of 15.75 and a beta of 0.92. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). The firm had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.49 earnings per share. As a group, equities analysts expect that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a $1.00 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.27%. Genuine Parts’s payout ratio is 51.48%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Wedbush reduced their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. The Goldman Sachs Group dropped their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Evercore ISI raised their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. Finally, UBS Group lowered their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $139.57.

About Genuine Parts

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.