Pathstone Holdings LLC Sells 691 Shares of Genuine Parts (NYSE:GPC)

Pathstone Holdings LLC lowered its holdings in Genuine Parts (NYSE:GPC) by 3.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,638 shares of the specialty retailer’s stock after selling 691 shares during the period. Pathstone Holdings LLC’s holdings in Genuine Parts were worth $2,464,000 at the end of the most recent quarter.

Other institutional investors and 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 third quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new position in Genuine Parts in the 3rd quarter valued at $31,000. Concord Wealth Partners raised its holdings in Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 119 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in shares of Genuine Parts during the 2nd quarter worth $40,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Genuine Parts in the third quarter worth $44,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Up 3.8 %

Shares of NYSE:GPC opened at $129.54 on Tuesday. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The company has a market capitalization of $18.01 billion, a PE ratio of 16.67 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The company has a fifty day moving average of $129.29 and a 200-day moving average of $136.96.

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

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Friday, December 6th. Genuine Parts’s payout ratio is 51.48%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Evercore ISI increased their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Wedbush reduced 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, October 23rd. Finally, StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $139.57.

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.