Nixon Peabody Trust Co. Sells 100 Shares of Genuine Parts (NYSE:GPC)

Nixon Peabody Trust Co. lessened its position in Genuine Parts (NYSE:GPC) by 2.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,800 shares of the specialty retailer’s stock after selling 100 shares during the period. Nixon Peabody Trust Co.’s holdings in Genuine Parts were worth $531,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Meeder Advisory Services Inc. boosted its holdings in shares of Genuine Parts by 2.5% during the 3rd quarter. Meeder Advisory Services Inc. now owns 6,028 shares of the specialty retailer’s stock valued at $842,000 after acquiring an additional 148 shares during the last quarter. Natixis Advisors LLC lifted its stake in shares of Genuine Parts by 16.4% in the 3rd quarter. Natixis Advisors LLC now owns 121,103 shares of the specialty retailer’s stock worth $16,916,000 after purchasing an additional 17,026 shares during the period. Mizuho Securities USA LLC grew its position in Genuine Parts by 651.4% during the third quarter. Mizuho Securities USA LLC now owns 80,731 shares of the specialty retailer’s stock valued at $11,277,000 after buying an additional 69,987 shares during the period. Mizuho Markets Americas LLC increased its holdings in Genuine Parts by 9.3% during the third quarter. Mizuho Markets Americas LLC now owns 41,550 shares of the specialty retailer’s stock valued at $5,804,000 after buying an additional 3,522 shares during the last quarter. Finally, Miramar Capital LLC boosted its stake in shares of Genuine Parts by 9.8% during the 3rd quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock worth $12,264,000 after acquiring an additional 7,845 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Price Performance

Shares of GPC traded up $1.26 during midday trading on Monday, hitting $123.88. 31,267 shares of the company traded hands, compared to its average volume of 1,053,138. The stock has a market cap of $17.22 billion, a price-to-earnings ratio of 15.78 and a beta of 0.92. The firm has a 50 day moving average of $130.79 and a 200-day moving average of $138.31. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (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 for the quarter, compared to analysts’ expectations of $5.94 billion. During the same period last year, the company earned $2.49 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis. On average, analysts forecast 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. Stockholders of record on Friday, September 6th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend 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 51.48%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GPC shares. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research report on Monday, November 11th. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. The Goldman Sachs Group lowered their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Wedbush reduced their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Finally, UBS Group lowered their target price 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. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $139.57.

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.