Pathstone Holdings LLC Sells 691 Shares of Genuine Parts (NYSE:GPC)

Pathstone Holdings LLC lessened its position in shares of Genuine Parts (NYSE:GPC) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,638 shares of the specialty retailer’s stock after selling 691 shares during the period. Pathstone Holdings LLC’s holdings in Genuine Parts were worth $2,464,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of GPC. Ashton Thomas Securities LLC bought a new position in shares of Genuine Parts during the third quarter worth about $26,000. Capital Performance Advisors LLP bought a new position in shares of Genuine Parts during the 3rd quarter worth approximately $31,000. Concord Wealth Partners raised its holdings in shares of Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 119 shares during the last quarter. Triad Wealth Partners LLC bought a new stake in shares of Genuine Parts in the second quarter worth $40,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Genuine Parts during the third quarter worth $44,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

GPC has been the topic of several analyst reports. Evercore ISI boosted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Wedbush reduced their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report 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 on the stock in a research report on Tuesday, October 22nd. UBS Group decreased their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Finally, Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Trading Up 3.8 %

Shares of Genuine Parts stock opened at $129.54 on Tuesday. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The company has a market capitalization of $18.01 billion, a price-to-earnings ratio of 16.67 and a beta of 0.92. The business has a fifty day simple moving average of $129.29 and a two-hundred day simple moving average of $136.96. 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 (NYSE:GPC) 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). The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.49 EPS. Research analysts forecast that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.09%. Genuine Parts’s dividend payout ratio (DPR) 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.