Financial Security Advisor Inc. Has $236,000 Position in Genuine Parts (NYSE:GPC)

Financial Security Advisor Inc. trimmed its position in shares of Genuine Parts (NYSE:GPC) by 5.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,677 shares of the specialty retailer’s stock after selling 106 shares during the quarter. Financial Security Advisor Inc.’s holdings in Genuine Parts were worth $236,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Manchester Capital Management LLC boosted its stake in shares of Genuine Parts by 36.1% in the 1st 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 in the last quarter. First Citizens Bank & Trust Co. lifted its stake in shares of Genuine Parts by 4.9% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock valued at $224,000 after acquiring an additional 75 shares during the last quarter. HBK Sorce Advisory LLC boosted its holdings in shares of Genuine Parts by 1.8% during the 1st quarter. HBK Sorce Advisory LLC now owns 4,437 shares of the specialty retailer’s stock valued at $689,000 after acquiring an additional 80 shares in the last quarter. Dover Advisors LLC increased its holdings in Genuine Parts by 5.1% in the 2nd quarter. Dover Advisors LLC now owns 1,756 shares of the specialty retailer’s stock worth $243,000 after purchasing an additional 85 shares in the last quarter. Finally, Blackhawk Capital Partners LLC. raised its position in Genuine Parts by 1.3% in the second quarter. Blackhawk Capital Partners LLC. now owns 6,793 shares of the specialty retailer’s stock valued at $940,000 after purchasing an additional 86 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

GPC has been the topic of several research reports. Evercore ISI boosted their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group decreased their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Finally, Truist Financial reduced their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $139.57.

Genuine Parts Stock Performance

NYSE:GPC opened at $116.66 on Wednesday. The firm has a market capitalization of $16.22 billion, a P/E ratio of 15.01 and a beta of 0.92. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The company has a fifty day moving average of $133.66 and a 200-day moving average of $140.42. 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 posted its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The firm had revenue of $6 billion for 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 firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the company posted $2.49 earnings per share. As a group, sell-side analysts anticipate that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.43%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

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.