Pathway Financial Advisers LLC Acquires 3,596 Shares of Genuine Parts (NYSE:GPC)

Pathway Financial Advisers LLC boosted its position in Genuine Parts (NYSE:GPC) by 56.0% in the third quarter, Holdings Channel.com reports. The firm owned 10,014 shares of the specialty retailer’s stock after buying an additional 3,596 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Genuine Parts were worth $1,399,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GPC. Concord Wealth Partners raised its holdings in Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 119 shares in the last quarter. Manchester Capital Management LLC raised its holdings in Genuine Parts by 36.1% in the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 66 shares in the last quarter. Triad Wealth Partners LLC bought a new position in Genuine Parts in the second quarter worth $40,000. Rosenberg Matthew Hamilton raised its holdings in Genuine Parts by 92.2% in the second quarter. Rosenberg Matthew Hamilton now owns 371 shares of the specialty retailer’s stock worth $50,000 after purchasing an additional 178 shares in the last quarter. Finally, Armstrong Advisory Group Inc. raised its holdings in 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 purchasing an additional 141 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Down 0.9 %

Shares of NYSE:GPC opened at $116.27 on Thursday. The stock has a market capitalization of $16.20 billion, a price-to-earnings ratio of 12.96 and a beta of 0.90. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.54 and a current ratio of 1.17. The stock’s 50-day simple moving average is $135.82 and its two-hundred day simple moving average is $141.50. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 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 during the quarter, compared to the consensus estimate of $5.94 billion. During the same period last year, the business earned $2.49 EPS. The firm’s quarterly 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 year.

Genuine Parts Announces Dividend

The business 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 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is currently 44.59%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports 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 report on Wednesday, October 23rd. Wedbush cut their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. UBS Group cut their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. The Goldman Sachs Group cut their target price on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $139.57.

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.