Genuine Parts (NYSE:GPC) Shares Sold by PFG Investments LLC

PFG Investments LLC lowered its stake in Genuine Parts (NYSE:GPC) by 2.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,109 shares of the specialty retailer’s stock after selling 127 shares during the quarter. PFG Investments LLC’s holdings in Genuine Parts were worth $714,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of GPC. Manchester Capital Management LLC raised its stake in shares of Genuine Parts by 36.1% during the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 66 shares during the period. Triad Wealth Partners LLC acquired a new position in Genuine Parts in the 2nd quarter worth $40,000. Armstrong Advisory Group Inc. boosted its position 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. Rosenberg Matthew Hamilton grew its stake in shares of Genuine Parts by 92.2% during the second quarter. Rosenberg Matthew Hamilton now owns 371 shares of the specialty retailer’s stock valued at $50,000 after acquiring an additional 178 shares in the last quarter. Finally, Salomon & Ludwin LLC increased its position in shares of Genuine Parts by 588.7% during the first quarter. Salomon & Ludwin LLC now owns 427 shares of the specialty retailer’s stock worth $66,000 after acquiring an additional 365 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GPC shares. Wedbush reduced their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Truist Financial decreased their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. decreased their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group cut their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $139.57.

Genuine Parts Trading Up 3.6 %

Genuine Parts stock opened at $118.35 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.54 and a current ratio of 1.17. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The firm’s 50-day moving average is $136.82 and its 200-day moving average is $141.88. The company has a market cap of $16.49 billion, a P/E ratio of 13.19 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last issued its 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). The company 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 business’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.49 earnings per share. On average, equities analysts expect that Genuine Parts will post 8.1 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s payout ratio is 44.59%.

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.