Pinkerton Retirement Specialists LLC reduced its stake in Genuine Parts (NYSE:GPC – Get Rating) by 12.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,259 shares of the specialty retailer’s stock after selling 2,620 shares during the period. Genuine Parts accounts for about 1.1% of Pinkerton Retirement Specialists LLC’s investment portfolio, making the stock its 24th biggest holding. Pinkerton Retirement Specialists LLC’s holdings in Genuine Parts were worth $2,726,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. WD Rutherford LLC acquired a new stake in Genuine Parts during the 3rd quarter valued at $25,000. Dupont Capital Management Corp raised its position in Genuine Parts by 128.0% in the third quarter. Dupont Capital Management Corp now owns 171 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. BDO Wealth Advisors LLC grew its stake in Genuine Parts by 113.2% during the third quarter. BDO Wealth Advisors LLC now owns 226 shares of the specialty retailer’s stock worth $34,000 after buying an additional 120 shares during the last quarter. Ronald Blue Trust Inc. bought a new stake in Genuine Parts during the second quarter worth about $38,000. Finally, Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Genuine Parts during the third quarter valued at approximately $40,000. 78.14% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have weighed in on GPC. Wedbush reiterated a “neutral” rating on shares of Genuine Parts in a report on Friday, February 24th. Truist Financial lifted their target price on shares of Genuine Parts from $170.00 to $186.00 and gave the stock a “hold” rating in a report on Friday, February 24th. Finally, The Goldman Sachs Group lifted their price objective on shares of Genuine Parts from $147.00 to $157.00 and gave the stock a “sell” rating in a research note on Thursday, February 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Genuine Parts currently has a consensus rating of “Hold” and an average price target of $152.20.
Genuine Parts Stock Up 0.6 %
Shares of GPC stock traded up $1.08 on Monday, hitting $172.88. The stock had a trading volume of 285,829 shares, compared to its average volume of 1,059,906. The stock has a market cap of $24.34 billion, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 1.91 and a beta of 0.90. The business has a 50 day moving average of $171.50 and a 200 day moving average of $169.17. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.15 and a quick ratio of 0.57. Genuine Parts has a 12-month low of $118.17 and a 12-month high of $187.73.
Genuine Parts (NYSE:GPC – Get Rating) last released its quarterly earnings data on Thursday, February 23rd. The specialty retailer reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.15. The company had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.33 billion. Genuine Parts had a net margin of 5.35% and a return on equity of 32.22%. Genuine Parts’s revenue was up 15.0% compared to the same quarter last year. During the same period last year, the business earned $1.79 earnings per share. As a group, analysts expect that Genuine Parts will post 8.94 EPS for the current year.
Genuine Parts Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Friday, March 3rd will be issued a $0.95 dividend. The ex-dividend date is Thursday, March 2nd. This represents a $3.80 annualized dividend and a yield of 2.20%. This is a boost from Genuine Parts’s previous quarterly dividend of $0.90. Genuine Parts’s payout ratio is 45.73%.
Genuine Parts Profile
Genuine Parts Co engages in the distribution of automotive and industrial replacement parts. It operates through the following segments: Automotive Parts Group, Industrial Parts Group, and Corporate. The Automotive Parts Group segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.
