Ascent Group LLC Sells 696 Shares of Genuine Parts (NYSE:GPC)

Ascent Group LLC lessened its stake in shares of Genuine Parts (NYSE:GPC) by 8.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,612 shares of the specialty retailer’s stock after selling 696 shares during the quarter. Ascent Group LLC’s holdings in Genuine Parts were worth $1,063,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GPC. Benjamin Edwards Inc. purchased a new position in Genuine Parts during the 3rd quarter valued at $1,237,000. B&L Asset Management LLC purchased a new position in shares of Genuine Parts during the third quarter worth approximately $377,000. Alethea Capital Management LLC bought a new position in Genuine Parts in the third quarter worth approximately $377,000. Morton Community Bank lifted its holdings in shares of Genuine Parts by 1.7% in the 3rd quarter. Morton Community Bank now owns 22,716 shares of the specialty retailer’s stock worth $3,173,000 after buying an additional 380 shares during the period. Finally, Semmax Financial Advisors Inc. raised its holdings in shares of Genuine Parts by 9.3% in the third quarter. Semmax Financial Advisors Inc. now owns 24,398 shares of the specialty retailer’s stock valued at $3,408,000 after acquiring an additional 2,068 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GPC shares. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. JPMorgan Chase & Co. dropped their target price 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. 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 research note on Wednesday, October 23rd. Evercore ISI lifted their target price on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Finally, Wedbush decreased their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $139.57.

Genuine Parts Trading Down 0.1 %

Genuine Parts stock opened at $127.38 on Wednesday. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The stock has a market cap of $17.71 billion, a PE ratio of 16.39 and a beta of 0.94. The stock has a 50-day moving average of $128.22 and a two-hundred day moving average of $135.96.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results 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). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same quarter in the previous year, the company posted $2.49 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, research analysts anticipate that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be given a $1.00 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.14%. Genuine Parts’s dividend payout ratio is currently 51.48%.

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.