Genuine Parts (NYSE:GPC) Shares Sold by Argent Trust Co

Argent Trust Co trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 6.0% in the second quarter, Holdings Channel reports. The firm owned 5,313 shares of the specialty retailer’s stock after selling 337 shares during the period. Argent Trust Co’s holdings in Genuine Parts were worth $735,000 at the end of the most recent quarter.

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

Genuine Parts Stock Performance

Shares of GPC opened at $139.14 on Friday. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $164.45. The company has a 50-day simple moving average of $139.71 and a 200-day simple moving average of $145.46. The company has a market capitalization of $19.38 billion, a PE ratio of 15.51 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.59 by ($0.15). The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the company posted $2.44 EPS. Equities research analysts predict that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Friday, September 6th. Genuine Parts’s payout ratio is currently 44.59%.

Analysts Set New Price Targets

A number of brokerages have issued reports on GPC. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. UBS Group cut their target price on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. The Goldman Sachs Group decreased their price target on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Evercore ISI cut their price objective on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research report on Wednesday, July 24th. Finally, Truist Financial reiterated a “buy” rating and issued a $164.00 target price on shares of Genuine Parts in a report on Wednesday, August 28th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $161.14.

Genuine Parts 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.