Orion Portfolio Solutions LLC Sells 4,819 Shares of Genuine Parts (NYSE:GPC)

Orion Portfolio Solutions LLC trimmed its holdings in Genuine Parts (NYSE:GPC) by 35.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 8,739 shares of the specialty retailer’s stock after selling 4,819 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Genuine Parts were worth $1,221,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in shares of Genuine Parts in the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP purchased a new position in shares of Genuine Parts in the third quarter worth $31,000. Concord Wealth Partners increased its stake in shares of 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 buying an additional 119 shares during the period. Catalyst Capital Advisors LLC purchased a new position in shares of Genuine Parts in the third quarter worth $44,000. Finally, Rosenberg Matthew Hamilton increased its stake in shares of 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 buying an additional 178 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. UBS Group decreased their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Evercore ISI lifted their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. decreased their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Wedbush decreased their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Genuine Parts has a consensus rating of “Hold” and an average price target of $139.57.

Genuine Parts Stock Down 0.5 %

Shares of Genuine Parts stock opened at $121.22 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The company’s fifty day simple moving average is $125.55 and its two-hundred day simple moving average is $134.55. The company has a market cap of $16.85 billion, a P/E ratio of 15.60 and a beta of 0.94. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The business had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.49 earnings per share. Research analysts anticipate that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Friday, December 6th. Genuine Parts’s dividend payout ratio is presently 51.48%.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now directly owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This represents a 12.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.37% of the company’s stock.

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.