UMB Bank n.a. Sells 3,189 Shares of Genuine Parts (NYSE:GPC)

UMB Bank n.a. trimmed its position in shares of Genuine Parts (NYSE:GPC) by 13.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,331 shares of the specialty retailer’s stock after selling 3,189 shares during the quarter. UMB Bank n.a.’s holdings in Genuine Parts were worth $2,951,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in Genuine Parts by 7.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,707,699 shares of the specialty retailer’s stock worth $353,436,000 after buying an additional 185,913 shares during the last quarter. Stifel Financial Corp grew its stake in shares of Genuine Parts by 27.0% during the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after purchasing an additional 431,623 shares during the last quarter. Norges Bank bought a new stake in shares of Genuine Parts during the fourth quarter valued at approximately $215,643,000. Dimensional Fund Advisors LP grew its stake in shares of Genuine Parts by 13.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,081,344 shares of the specialty retailer’s stock valued at $149,766,000 after purchasing an additional 129,472 shares during the last quarter. Finally, Morningstar Investment Services LLC grew its stake in shares of Genuine Parts by 161.2% during the fourth quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock valued at $80,066,000 after purchasing an additional 357,091 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Trading Up 0.7 %

NYSE GPC traded up $0.97 during trading hours on Friday, hitting $143.25. The company’s stock had a trading volume of 821,937 shares, compared to its average volume of 991,595. The stock has a fifty day moving average of $139.02 and a 200 day moving average of $146.23. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $164.45. The firm has a market capitalization of $19.95 billion, a P/E ratio of 15.97 and a beta of 0.92. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.59 by ($0.15). The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the business posted $2.44 earnings per share. Equities research analysts forecast that Genuine Parts will post 9.36 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.79%. Genuine Parts’s payout ratio is 44.59%.

Wall Street Analyst Weigh In

Several research firms have recently commented on GPC. Evercore ISI decreased their price target on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research note on Wednesday, July 24th. The Goldman Sachs Group decreased their price target on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Thursday. Wedbush decreased their price target on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Finally, UBS Group cut their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Genuine Parts currently has an average rating of “Hold” and a consensus target price of $161.14.

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.