Equitable Trust Co. Grows Position in Genuine Parts (NYSE:GPC)

Equitable Trust Co. grew its stake in Genuine Parts (NYSE:GPC) by 25.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 2,959 shares of the specialty retailer’s stock after buying an additional 600 shares during the period. Equitable Trust Co.’s holdings in Genuine Parts were worth $409,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GPC. WD Rutherford LLC purchased a new position in Genuine Parts in the 1st quarter worth $26,000. Assetmark Inc. increased its holdings in shares of Genuine Parts by 109.1% in the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 96 shares during the period. Union Savings Bank raised its stake in shares of Genuine Parts by 100.0% in the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. Thompson Investment Management Inc. acquired a new stake in shares of Genuine Parts during the first quarter worth about $35,000. Finally, Stephens Consulting LLC boosted its position in Genuine Parts by 740.7% in the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 200 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Trading Up 0.7 %

Shares of Genuine Parts stock opened at $143.26 on Tuesday. The firm has a 50-day simple moving average of $139.08 and a two-hundred day simple moving average of $146.26. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $164.45. The company has a market cap of $19.96 billion, a P/E ratio of 15.97 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last released 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 return on equity of 30.03% and a net margin of 5.24%. The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. During the same period in the previous year, the company posted $2.44 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities analysts predict that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.79%. Genuine Parts’s dividend payout ratio is currently 44.59%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on GPC shares. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. 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. Truist Financial reaffirmed a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a report on Wednesday, August 28th. The Goldman Sachs Group reduced their price objective on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Finally, Evercore ISI lowered their target price on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research note on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $161.14.

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.