Genuine Parts (NYSE:GPC) Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. lowered its stake in shares of Genuine Parts (NYSE:GPC) by 7.4% in the third quarter, HoldingsChannel reports. The firm owned 26,436 shares of the specialty retailer’s stock after selling 2,118 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Genuine Parts were worth $3,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in GPC. PEAK6 Investments LLC acquired a new position in Genuine Parts during the 3rd quarter valued at about $3,089,000. Public Sector Pension Investment Board boosted its position in shares of Genuine Parts by 15.2% during the third quarter. Public Sector Pension Investment Board now owns 6,068 shares of the specialty retailer’s stock worth $848,000 after buying an additional 800 shares during the period. Financial Counselors Inc. grew its holdings in Genuine Parts by 2.9% in the 3rd quarter. Financial Counselors Inc. now owns 22,531 shares of the specialty retailer’s stock worth $3,147,000 after buying an additional 639 shares in the last quarter. Fiduciary Trust Co increased its position in Genuine Parts by 40.9% in the 3rd quarter. Fiduciary Trust Co now owns 2,406 shares of the specialty retailer’s stock valued at $336,000 after acquiring an additional 698 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Genuine Parts by 13.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,886 shares of the specialty retailer’s stock worth $4,314,000 after acquiring an additional 3,601 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Trading Down 1.0 %

NYSE:GPC opened at $124.64 on Friday. The stock has a fifty day simple moving average of $127.72 and a 200 day simple moving average of $135.71. The firm has a market capitalization of $17.33 billion, a price-to-earnings ratio of 16.20 and a beta of 0.94. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81.

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

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Friday, December 6th. Genuine Parts’s payout ratio is presently 51.48%.

Analysts Set New Price Targets

A number of research analysts have recently commented on GPC shares. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Truist Financial dropped their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. The Goldman Sachs Group decreased their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Evercore ISI boosted their target price on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. cut their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.