Genuine Parts (NYSE:GPC) Position Reduced by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC reduced its position in Genuine Parts (NYSE:GPC) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,693 shares of the specialty retailer’s stock after selling 340 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Genuine Parts were worth $7,081,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in GPC. Manchester Capital Management LLC boosted its stake in Genuine Parts by 36.1% in the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 66 shares during the period. Triad Wealth Partners LLC purchased a new stake in shares of Genuine Parts in the second quarter valued at $40,000. Armstrong Advisory Group Inc. boosted its position in shares of Genuine Parts by 63.8% in the third quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock worth $51,000 after buying an additional 141 shares during the period. Rosenberg Matthew Hamilton grew its holdings 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 buying an additional 178 shares in the last quarter. Finally, Salomon & Ludwin LLC raised its position in Genuine Parts by 588.7% during the first quarter. Salomon & Ludwin LLC now owns 427 shares of the specialty retailer’s stock valued at $66,000 after buying an additional 365 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Trading Down 0.9 %

Shares of NYSE:GPC opened at $116.27 on Thursday. The company has a current ratio of 1.17, a quick ratio of 0.54 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $16.20 billion, a PE ratio of 12.96 and a beta of 0.90. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The firm has a fifty day moving average price of $135.82 and a 200 day moving average price of $141.50.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter last year, the company posted $2.49 EPS. The business’s revenue was up 3.0% compared to the same quarter last year. Analysts expect that Genuine Parts will post 8.1 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s payout ratio is 44.59%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GPC shares. Truist Financial decreased their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Wedbush cut their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. reduced their price objective on 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, Evercore ISI upped their target price on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $139.57.

About Genuine Parts

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.