Ballentine Partners LLC Has $967,000 Stake in Genuine Parts (NYSE:GPC)

Ballentine Partners LLC decreased its stake in shares of Genuine Parts (NYSE:GPC) by 2.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 6,920 shares of the specialty retailer’s stock after selling 157 shares during the period. Ballentine Partners LLC’s holdings in Genuine Parts were worth $967,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in GPC. Manchester Capital Management LLC increased its holdings in shares of Genuine Parts by 36.1% during the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock valued at $39,000 after acquiring an additional 66 shares during the last quarter. Triad Wealth Partners LLC acquired a new stake in Genuine Parts in the 2nd quarter valued at approximately $40,000. Rosenberg Matthew Hamilton grew its holdings in Genuine Parts by 92.2% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 371 shares of the specialty retailer’s stock valued at $50,000 after buying an additional 178 shares during the last quarter. Armstrong Advisory Group Inc. grew its holdings in Genuine Parts by 63.8% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock valued at $51,000 after buying an additional 141 shares during the last quarter. Finally, Salomon & Ludwin LLC grew its holdings in Genuine Parts by 588.7% in the 1st quarter. Salomon & Ludwin LLC now owns 427 shares of the specialty retailer’s stock valued at $66,000 after buying an additional 365 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of GPC stock opened at $114.24 on Friday. The stock has a 50 day moving average of $137.22 and a two-hundred day moving average of $142.12. The company has a current ratio of 1.17, a quick ratio of 0.54 and a debt-to-equity ratio of 0.81. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The company has a market capitalization of $15.92 billion, a P/E ratio of 14.70 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 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 return on equity of 27.23% and a net margin of 4.67%. Genuine Parts’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.49 EPS. As a group, equities analysts expect that Genuine Parts will post 8.1 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently announced 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. The ex-dividend date was Friday, September 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.50%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Analyst Ratings Changes

A number of analysts have issued reports on GPC shares. UBS Group lowered their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday. Wedbush lowered their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. lowered their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. 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 report on Tuesday, October 22nd. Finally, The Goldman Sachs Group reduced their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday. Six research 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.com, the company has a consensus rating of “Hold” and a consensus target price 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.