HighTower Advisors LLC decreased its holdings in shares of Genuine Parts (NYSE:GPC - Free Report) by 29.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,287 shares of the specialty retailer's stock after selling 44,456 shares during the quarter. HighTower Advisors LLC owned 0.08% of Genuine Parts worth $14,705,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of the business. First Citizens Bank & Trust Co. grew its stake in Genuine Parts by 4.9% during 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 in the last quarter. Dover Advisors LLC boosted its holdings in shares of Genuine Parts by 5.1% during the second quarter. Dover Advisors LLC now owns 1,756 shares of the specialty retailer's stock worth $243,000 after purchasing an additional 85 shares during the period. Metis Global Partners LLC grew its position in Genuine Parts by 1.9% during the third quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer's stock valued at $625,000 after purchasing an additional 85 shares in the last quarter. Blackhawk Capital Partners LLC. increased its stake in Genuine Parts by 1.3% in the 2nd quarter. Blackhawk Capital Partners LLC. now owns 6,793 shares of the specialty retailer's stock valued at $940,000 after buying an additional 86 shares during the period. Finally, Guardian Wealth Advisors LLC boosted its stake in shares of Genuine Parts by 2.7% during the 3rd quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer's stock valued at $484,000 after buying an additional 91 shares during the period. Hedge funds and other institutional investors own 78.83% of the company's stock.
Shares of GPC stock opened at $123.46 on Friday. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The company has a market cap of $17.17 billion, a PE ratio of 15.89 and a beta of 0.94. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The business's 50 day moving average is $127.03 and its two-hundred day moving average is $135.44.
Genuine Parts (NYSE:GPC - Get Free Report) 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). 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 the consensus estimate of $5.94 billion. During the same quarter last year, the business earned $2.49 EPS. The business's revenue was up 3.0% compared to the same quarter last year. Equities analysts predict that Genuine Parts will post 8.09 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be paid a dividend of $1.00 per share. The ex-dividend date is Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.24%. Genuine Parts's payout ratio is 51.48%.
GPC has been the topic of a number of research reports. UBS Group dropped their price target on shares of Genuine Parts from $145.00 to $125.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 23rd. Wedbush cut their price target on Genuine Parts from $145.00 to $120.00 and set a "neutral" rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their price target on Genuine Parts from $162.00 to $135.00 and set an "overweight" rating for the company in a research note on Tuesday, October 22nd. Evercore ISI raised their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an "in-line" rating in a research report on Tuesday, October 22nd. Finally, Truist Financial decreased their target price on shares of Genuine Parts from $164.00 to $129.00 and set a "buy" rating for the company in a research report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Genuine Parts presently has an average rating of "Hold" and a consensus price target of $139.57.
Check Out Our Latest Research Report on 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.
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