Ashton Thomas Private Wealth LLC Has $361,000 Stock Position in Genuine Parts (NYSE:GPC)

Ashton Thomas Private Wealth LLC cut its stake in shares of Genuine Parts (NYSE:GPC) by 4.5% in the third quarter, Holdings Channel reports. The firm owned 2,582 shares of the specialty retailer’s stock after selling 123 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Genuine Parts were worth $361,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GPC. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Genuine Parts by 2.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 385,026 shares of the specialty retailer’s stock worth $53,780,000 after buying an additional 7,734 shares during the period. WealthPlan Investment Management LLC boosted its stake in Genuine Parts by 7.3% during the 3rd quarter. WealthPlan Investment Management LLC now owns 70,949 shares of the specialty retailer’s stock worth $9,910,000 after acquiring an additional 4,836 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in Genuine Parts by 17.5% during the third quarter. Nations Financial Group Inc. IA ADV now owns 3,444 shares of the specialty retailer’s stock valued at $481,000 after purchasing an additional 512 shares during the period. Venturi Wealth Management LLC increased its stake in Genuine Parts by 4.0% in the third quarter. Venturi Wealth Management LLC now owns 8,424 shares of the specialty retailer’s stock valued at $1,177,000 after purchasing an additional 326 shares in the last quarter. Finally, Delta Financial Advisors LLC raised its holdings in Genuine Parts by 10.2% in the third quarter. Delta Financial Advisors LLC now owns 12,206 shares of the specialty retailer’s stock worth $1,705,000 after purchasing an additional 1,127 shares during the period. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Genuine Parts stock opened at $123.87 on Friday. The stock’s fifty day moving average price is $131.02 and its two-hundred day moving average price is $138.84. The firm has a market cap of $17.22 billion, a PE ratio of 15.94 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. Genuine Parts has a one year low of $112.74 and a one year high of $164.45.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) 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 company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.49 earnings per share. As a group, research analysts expect that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio is presently 51.48%.

Analyst Ratings Changes

Several brokerages have recently issued reports on GPC. The Goldman Sachs Group decreased their price target 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. Wedbush decreased their target price 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. dropped their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Truist Financial decreased their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and an average price target of $139.57.

Genuine Parts 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.