GLOBALT Investments LLC GA Sells 2,256 Shares of Genuine Parts (NYSE:GPC)

GLOBALT Investments LLC GA lessened its stake in Genuine Parts (NYSE:GPC) by 5.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,170 shares of the specialty retailer’s stock after selling 2,256 shares during the period. GLOBALT Investments LLC GA’s holdings in Genuine Parts were worth $5,890,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of GPC. First Citizens Bank & Trust Co. boosted its holdings in shares of Genuine Parts by 4.9% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock valued at $224,000 after buying an additional 75 shares in the last quarter. Dover Advisors LLC lifted its position in shares of Genuine Parts by 5.1% in the second quarter. Dover Advisors LLC now owns 1,756 shares of the specialty retailer’s stock valued at $243,000 after acquiring an additional 85 shares in the last quarter. Metis Global Partners LLC lifted its stake in shares of Genuine Parts by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock worth $625,000 after purchasing an additional 85 shares during the period. Blackhawk Capital Partners LLC. increased its stake in Genuine Parts by 1.3% during the second quarter. Blackhawk Capital Partners LLC. now owns 6,793 shares of the specialty retailer’s stock worth $940,000 after acquiring an additional 86 shares during the last quarter. Finally, Valeo Financial Advisors LLC boosted its position in Genuine Parts by 3.0% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,173 shares of the specialty retailer’s stock worth $439,000 after purchasing an additional 92 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Trading Down 1.0 %

NYSE GPC opened at $122.62 on Monday. The firm has a market cap of $17.05 billion, a P/E ratio of 15.78 and a beta of 0.92. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The stock’s 50-day moving average is $130.79 and its 200-day moving average is $138.31. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57.

Genuine Parts (NYSE:GPC) last issued its earnings results 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). The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.49 earnings per share. Sell-side analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio is 51.48%.

Analyst Ratings Changes

Several brokerages recently issued reports on GPC. The Goldman Sachs Group reduced their price objective 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. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. cut their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, UBS Group decreased their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.