Raymond James Trust N.A. Purchases 543 Shares of Genuine Parts (NYSE:GPC)

Raymond James Trust N.A. grew its position in Genuine Parts (NYSE:GPC) by 7.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,138 shares of the specialty retailer’s stock after acquiring an additional 543 shares during the quarter. Raymond James Trust N.A.’s holdings in Genuine Parts were worth $1,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in Genuine Parts in the third quarter worth $26,000. Capital Performance Advisors LLP purchased a new position in shares of Genuine Parts in the 3rd quarter worth $31,000. Concord Wealth Partners increased its holdings in shares of Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after buying an additional 119 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of Genuine Parts during the 2nd quarter valued at about $40,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Genuine Parts in the 3rd quarter valued at about $44,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Trading Up 1.7 %

GPC stock opened at $124.80 on Monday. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The firm’s 50-day moving average is $129.44 and its 200 day moving average is $137.14. The company has a market capitalization of $17.35 billion, a PE ratio of 16.06 and a beta of 0.92. 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 posted its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. During the same period in the prior year, the firm posted $2.49 EPS. The business’s revenue was up 3.0% on a year-over-year basis. On average, research analysts anticipate that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Friday, December 6th. Genuine Parts’s payout ratio is 51.48%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GPC shares. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. 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 report on Wednesday, October 23rd. Truist Financial lowered their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. UBS Group cut their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group lowered their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report 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 currently has an average rating of “Hold” and an average target price of $139.57.

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.