Ashton Thomas Private Wealth LLC Lowers Position in Genuine Parts (NYSE:GPC)

Ashton Thomas Private Wealth LLC decreased its position in shares of Genuine Parts (NYSE:GPC) by 5.7% during the second quarter, Holdings Channel reports. The fund owned 2,705 shares of the specialty retailer’s stock after selling 165 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Genuine Parts were worth $374,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GPC. Manchester Capital Management LLC grew its stake in Genuine Parts by 36.1% in the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 66 shares during the period. North Star Investment Management Corp. increased its stake in shares of Genuine Parts by 8.5% in the 1st quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock worth $138,000 after acquiring an additional 70 shares in the last quarter. CHICAGO TRUST Co NA lifted its position in Genuine Parts by 3.6% during the 1st quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock valued at $316,000 after acquiring an additional 71 shares during the period. First Citizens Bank & Trust Co. boosted its stake in Genuine Parts by 4.9% during the second quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock worth $224,000 after acquiring an additional 75 shares in the last quarter. Finally, Checchi Capital Advisers LLC grew its holdings in Genuine Parts by 2.2% in the fourth quarter. Checchi Capital Advisers LLC now owns 3,530 shares of the specialty retailer’s stock worth $489,000 after purchasing an additional 76 shares during the period. Institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. Evercore ISI cut their target price on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research note on Wednesday, July 24th. Truist Financial reaffirmed a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a research report on Wednesday, August 28th. Finally, UBS Group cut their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Genuine Parts has a consensus rating of “Hold” and an average price target of $161.14.

Genuine Parts Trading Down 0.5 %

Genuine Parts stock opened at $135.05 on Thursday. Genuine Parts has a one year low of $126.35 and a one year high of $164.45. The business’s fifty day moving average is $139.23 and its 200 day moving average is $145.90. The stock has a market capitalization of $18.81 billion, a PE ratio of 15.06 and a beta of 0.90. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The company had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. During the same period in the previous year, the business earned $2.44 EPS. The business’s revenue was up .8% compared to the same quarter last year. On average, sell-side analysts predict that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a yield of 2.96%. Genuine Parts’s dividend payout ratio is presently 44.59%.

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.