Haverford Trust Co Sells 1,277 Shares of Genuine Parts (NYSE:GPC)

Haverford Trust Co trimmed its stake in shares of Genuine Parts (NYSE:GPC) by 1.1% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 111,698 shares of the specialty retailer’s stock after selling 1,277 shares during the quarter. Haverford Trust Co’s holdings in Genuine Parts were worth $15,602,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of GPC. Ashton Thomas Securities LLC bought a new stake in shares of Genuine Parts during the 3rd quarter worth $26,000. Capital Performance Advisors LLP bought a new position in Genuine Parts in the third quarter valued at about $31,000. Concord Wealth Partners raised its position in Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 119 shares during the last quarter. Triad Wealth Partners LLC bought a new position in Genuine Parts in the second quarter valued at about $40,000. Finally, Catalyst Capital Advisors LLC bought a new position in Genuine Parts in the third quarter valued at about $44,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Up 0.3 %

GPC stock opened at $122.70 on Wednesday. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The stock’s 50 day moving average is $131.64 and its 200-day moving average is $139.05. The firm has a market capitalization of $17.06 billion, a PE ratio of 15.79 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 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 business had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter last year, the business posted $2.49 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. Sell-side analysts expect that Genuine Parts will post 8.09 EPS for the current fiscal 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 given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Friday, September 6th. Genuine Parts’s dividend payout ratio is currently 51.48%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GPC. Wedbush decreased their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. 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. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group decreased their target price on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average 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.