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

GLOBALT Investments LLC GA decreased its position in shares of Genuine Parts (NYSE:GPC) by 5.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in GPC. Natixis Advisors LLC lifted its position in Genuine Parts by 16.4% during the 3rd quarter. Natixis Advisors LLC now owns 121,103 shares of the specialty retailer’s stock worth $16,916,000 after acquiring an additional 17,026 shares during the period. Mizuho Securities USA LLC lifted its holdings in Genuine Parts by 651.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 80,731 shares of the specialty retailer’s stock valued at $11,277,000 after purchasing an additional 69,987 shares in the last quarter. Mizuho Markets Americas LLC lifted its position in Genuine Parts by 9.3% during the third quarter. Mizuho Markets Americas LLC now owns 41,550 shares of the specialty retailer’s stock worth $5,804,000 after buying an additional 3,522 shares in the last quarter. Miramar Capital LLC grew its stake in shares of Genuine Parts by 9.8% in the 3rd quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock valued at $12,264,000 after buying an additional 7,845 shares during the period. Finally, Coastline Trust Co acquired a new stake in shares of Genuine Parts during the 3rd quarter worth about $164,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of GPC stock opened at $122.62 on Monday. 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 company 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 twelve month low of $112.74 and a twelve month high of $164.45. The business has a fifty day simple moving average of $130.79 and a 200 day simple moving average of $138.31.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). The business had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.49 earnings per share. On average, sell-side analysts forecast that Genuine Parts will post 8.09 EPS for the current fiscal 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 given a dividend of $1.00 per share. The ex-dividend date was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.26%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Analyst Upgrades and Downgrades

GPC has been the topic of a number of recent analyst reports. Truist Financial dropped their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. UBS Group reduced their price objective 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. Wedbush lowered their target price 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. Evercore ISI raised their target price on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group decreased their target price on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus 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.