Crossmark Global Holdings Inc. Sells 1,192 Shares of Genuine Parts (NYSE:GPC)

Crossmark Global Holdings Inc. lowered its stake in shares of Genuine Parts (NYSE:GPC) by 13.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,622 shares of the specialty retailer’s stock after selling 1,192 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Genuine Parts were worth $1,065,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new position in shares of Genuine Parts in the third quarter worth about $31,000. Concord Wealth Partners boosted its stake in shares of Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 119 shares during the last quarter. Triad Wealth Partners LLC acquired a new stake in shares of Genuine Parts in the second quarter worth approximately $40,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Genuine Parts in the third quarter worth approximately $44,000. Finally, Rosenberg Matthew Hamilton lifted its position in Genuine Parts by 92.2% during the second quarter. Rosenberg Matthew Hamilton now owns 371 shares of the specialty retailer’s stock worth $50,000 after buying an additional 178 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

GPC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research report on Monday. UBS Group lowered their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Finally, Evercore ISI upped their target price on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $139.57.

Genuine Parts Trading Up 0.2 %

GPC opened at $123.87 on Friday. The firm’s 50 day moving average is $131.02 and its 200-day moving average is $138.84. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $17.22 billion, a P/E ratio of 15.94 and a beta of 0.92. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The company had revenue of $6 billion for the quarter, compared to the consensus estimate 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 quarter last year, the company earned $2.49 earnings per share. Analysts expect that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were issued a $1.00 dividend. The ex-dividend date was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.23%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

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.