Sigma Planning Corp Sells 139 Shares of Genuine Parts (NYSE:GPC)

Sigma Planning Corp trimmed its stake in Genuine Parts (NYSE:GPC) by 4.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,968 shares of the specialty retailer’s stock after selling 139 shares during the period. Sigma Planning Corp’s holdings in Genuine Parts were worth $415,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Conning Inc. lifted its stake in shares of Genuine Parts by 8.2% in the third quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock worth $36,499,000 after acquiring an additional 19,795 shares during the period. WD Rutherford LLC boosted its stake in shares of Genuine Parts by 4,265.9% in the 3rd quarter. WD Rutherford LLC now owns 7,422 shares of the specialty retailer’s stock valued at $1,037,000 after purchasing an additional 7,252 shares during the last quarter. Comerica Bank increased its position in shares of Genuine Parts by 19.6% during the first quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock worth $17,609,000 after buying an additional 18,657 shares during the period. Hamlin Capital Management LLC raised its stake in Genuine Parts by 12.3% during the third quarter. Hamlin Capital Management LLC now owns 591,075 shares of the specialty retailer’s stock worth $82,561,000 after buying an additional 64,520 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Genuine Parts by 137.9% in the first quarter. Acadian Asset Management LLC now owns 22,997 shares of the specialty retailer’s stock valued at $3,560,000 after buying an additional 13,330 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GPC shares. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. lowered their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. UBS Group cut their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, Evercore ISI increased their target price 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. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $139.57.

Genuine Parts Stock Performance

NYSE:GPC opened at $122.62 on Friday. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The business has a fifty day simple moving average of $130.79 and a two-hundred day simple moving average of $138.57. The company has a market capitalization of $17.05 billion, a P/E ratio of 15.78 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data 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). 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 analysts’ expectations of $5.94 billion. During the same period last year, the company posted $2.49 EPS. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts expect that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio is presently 51.48%.

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.