Commerce Bank Has $1.46 Million Stock Position in Genuine Parts (NYSE:GPC)

Commerce Bank lessened its stake in Genuine Parts (NYSE:GPC) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,466 shares of the specialty retailer’s stock after selling 168 shares during the quarter. Commerce Bank’s holdings in Genuine Parts were worth $1,462,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Genuine Parts in the third quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new stake in shares of Genuine Parts in the 3rd quarter valued at $31,000. Concord Wealth Partners increased its stake in shares of Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 119 shares during the period. Triad Wealth Partners LLC bought a new stake in shares of Genuine Parts during the second quarter worth $40,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Genuine Parts during the third quarter valued at $44,000. 78.83% of the stock is owned by institutional investors.

Genuine Parts Price Performance

Shares of GPC stock opened at $124.80 on Friday. The firm has a market capitalization of $17.35 billion, a price-to-earnings ratio of 16.06 and a beta of 0.92. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. 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 fifty day moving average of $129.44 and a 200-day moving average of $137.26.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The business had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.49 earnings per share. On average, equities research analysts forecast that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Friday, December 6th. Genuine Parts’s payout ratio is currently 51.48%.

Analysts Set New Price Targets

GPC has been the subject of several recent research reports. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Evercore ISI boosted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Truist Financial reduced their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Finally, Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Seven 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 company presently has an average rating of “Hold” and a consensus 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.