Genuine Parts (NYSE:GPC) Shares Sold by Atria Investments Inc

Atria Investments Inc reduced its holdings in Genuine Parts (NYSE:GPC) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,485 shares of the specialty retailer’s stock after selling 327 shares during the quarter. Atria Investments Inc’s holdings in Genuine Parts were worth $2,861,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new position in shares of Genuine Parts during the third quarter valued at $31,000. Concord Wealth Partners raised its position in shares of Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after buying an additional 119 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in shares of Genuine Parts in the 2nd quarter worth approximately $40,000. Catalyst Capital Advisors LLC bought a new position in shares of Genuine Parts in the third quarter valued at approximately $44,000. Finally, Rosenberg Matthew Hamilton increased its stake in shares of Genuine Parts by 92.2% during the second quarter. Rosenberg Matthew Hamilton now owns 371 shares of the specialty retailer’s stock valued at $50,000 after acquiring an additional 178 shares during the period. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

Shares of GPC stock opened at $123.70 on Thursday. The company has a market capitalization of $17.20 billion, a price-to-earnings ratio of 15.92 and a beta of 0.92. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The stock’s fifty day simple moving average is $131.29 and its 200-day simple moving average is $138.94.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.54). The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm earned $2.49 EPS. On average, sell-side analysts predict that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were given a $1.00 dividend. The ex-dividend date was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.23%. Genuine Parts’s payout ratio is 51.48%.

Analysts Set New Price Targets

GPC has been the topic of several research analyst reports. Truist Financial lowered their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. UBS Group cut their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group cut their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $139.57.

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.