Genuine Parts (NYSE:GPC) Shares Sold by LGT Financial Advisors LLC

LGT Financial Advisors LLC reduced its position in Genuine Parts (NYSE:GPC) by 60.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 427 shares of the specialty retailer’s stock after selling 643 shares during the quarter. LGT Financial Advisors LLC’s holdings in Genuine Parts were worth $59,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. National Bank of Canada FI lifted its stake in shares of Genuine Parts by 445.0% during the second quarter. National Bank of Canada FI now owns 231,353 shares of the specialty retailer’s stock worth $30,967,000 after purchasing an additional 188,902 shares in the last quarter. TD Asset Management Inc boosted its holdings in Genuine Parts by 13.8% in the 2nd quarter. TD Asset Management Inc now owns 102,726 shares of the specialty retailer’s stock worth $14,209,000 after acquiring an additional 12,425 shares during the period. Strategy Asset Managers LLC purchased a new position in Genuine Parts in the 2nd quarter worth approximately $594,000. Larson Financial Group LLC grew its position in Genuine Parts by 14.6% in the second quarter. Larson Financial Group LLC now owns 1,686 shares of the specialty retailer’s stock valued at $233,000 after acquiring an additional 215 shares in the last quarter. Finally, Foundations Investment Advisors LLC raised its stake in shares of Genuine Parts by 33.7% during the second quarter. Foundations Investment Advisors LLC now owns 5,621 shares of the specialty retailer’s stock valued at $778,000 after purchasing an additional 1,416 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group lowered their price target on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Evercore ISI lowered their target price on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research note on Wednesday, July 24th. Truist Financial reiterated a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a research note on Wednesday, August 28th. UBS Group lowered their price objective on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Finally, Wedbush dropped their price objective on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $161.14.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $137.34 on Friday. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $19.13 billion, a price-to-earnings ratio of 15.31 and a beta of 0.92. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $164.45. The business has a 50 day simple moving average of $139.22 and a 200-day simple moving average of $146.16.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data 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). 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 for the quarter, compared to analyst estimates of $6.03 billion. During the same quarter last year, the company earned $2.44 EPS. Genuine Parts’s revenue was up .8% compared to the same quarter last year. As a group, equities research analysts expect that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Announces Dividend

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 given a dividend of $1.00 per share. 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 2.91%. Genuine Parts’s dividend payout ratio is currently 44.59%.

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.