Genuine Parts Company $GPC Stock Sold by International Assets Investment Management LLC

International Assets Investment Management LLC cut its stake in shares of Genuine Parts Company (NYSE:GPC) by 47.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,000 shares of the specialty retailer’s stock after selling 8,873 shares during the period. International Assets Investment Management LLC’s holdings in Genuine Parts were worth $1,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Focus Financial Network Inc. increased its position in shares of Genuine Parts by 2.9% during the 3rd quarter. Focus Financial Network Inc. now owns 2,725 shares of the specialty retailer’s stock valued at $346,000 after purchasing an additional 77 shares during the last quarter. North Dakota State Investment Board lifted its position in Genuine Parts by 2.0% in the third quarter. North Dakota State Investment Board now owns 4,208 shares of the specialty retailer’s stock worth $529,000 after buying an additional 83 shares during the last quarter. Beacon Investment Advisory Services Inc. boosted its stake in Genuine Parts by 13.8% during the second quarter. Beacon Investment Advisory Services Inc. now owns 727 shares of the specialty retailer’s stock worth $86,000 after buying an additional 88 shares during the period. C2C Wealth Management LLC boosted its stake in Genuine Parts by 3.8% during the third quarter. C2C Wealth Management LLC now owns 2,750 shares of the specialty retailer’s stock worth $346,000 after buying an additional 100 shares during the period. Finally, Blake Schutter Theil Wealth Advisors LLC increased its position in Genuine Parts by 3.2% during the first quarter. Blake Schutter Theil Wealth Advisors LLC now owns 3,319 shares of the specialty retailer’s stock valued at $351,000 after acquiring an additional 103 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GPC has been the subject of several analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Genuine Parts in a report on Monday, September 21st. Raymond James Financial reiterated a “strong-buy” rating and set a $165.00 price target on shares of Genuine Parts in a report on Wednesday, July 22nd. Evercore reissued an “outperform” rating on shares of Genuine Parts in a research report on Wednesday, July 22nd. The Goldman Sachs Group set a $122.00 price objective on shares of Genuine Parts in a research note on Tuesday, October 20th. Finally, UBS Group raised their price objective on shares of Genuine Parts from $122.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Genuine Parts has a consensus rating of “Moderate Buy” and an average price target of $145.00.

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $126.36 on Thursday. The company has a quick ratio of 0.54, a current ratio of 1.22 and a debt-to-equity ratio of 0.96. The stock’s fifty day moving average is $129.45 and its two-hundred day moving average is $120.12. Genuine Parts Company has a 52 week low of $90.78 and a 52 week high of $151.57. The company has a market capitalization of $17.42 billion, a PE ratio of 505.46, a price-to-earnings-growth ratio of 2.72 and a beta of 0.65.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, October 20th. The specialty retailer reported $2.07 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.03. The business had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.49 billion. Genuine Parts had a return on equity of 23.00% and a net margin of 0.12%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the company earned $1.98 earnings per share. As a group, analysts expect that Genuine Parts Company will post 7.62 earnings per share for the current year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 4th were paid a $1.0625 dividend. This represents a $4.25 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, September 4th. Genuine Parts’s dividend payout ratio (DPR) is currently 1,700.00%.

About Genuine Parts

Genuine Parts Company (NYSE:GPC) is a distributor of automotive and industrial replacement parts. Its Automotive Parts Group supplies components and accessories for cars, trucks and other vehicles, serving professional repair shops, commercial customers and do-it-yourself consumers through distribution networks, stores and digital channels.

The company’s Industrial Parts Group distributes products used to maintain and repair manufacturing, commercial and other industrial equipment. Its offerings include bearings, power-transmission components, motion-control products, industrial supplies and related maintenance, repair and operations products.