Howe & Rusling Inc. Sells 283 Shares of Genuine Parts (NYSE:GPC)

Howe & Rusling Inc. cut its stake in Genuine Parts (NYSE:GPC) by 0.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 46,354 shares of the specialty retailer’s stock after selling 283 shares during the quarter. Howe & Rusling Inc.’s holdings in Genuine Parts were worth $6,475,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of GPC. Ashton Thomas Securities LLC acquired a new position in Genuine Parts during the third quarter worth $26,000. Capital Performance Advisors LLP acquired a new stake in shares of Genuine Parts in the third quarter valued at approximately $31,000. Concord Wealth Partners raised its position in Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 119 shares during the last quarter. Triad Wealth Partners LLC acquired a new position in Genuine Parts during the 2nd quarter worth $40,000. Finally, Catalyst Capital Advisors LLC bought a new position in Genuine Parts in the 3rd quarter valued at $44,000. Institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Wedbush reduced their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. cut their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Truist Financial decreased their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Price Performance

NYSE:GPC opened at $121.26 on Wednesday. The stock has a market capitalization of $16.86 billion, a PE ratio of 15.61 and a beta of 0.92. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The firm has a fifty day simple moving average of $130.25 and a 200 day simple moving average of $137.83. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the business earned $2.49 EPS. On average, 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 will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.30%. Genuine Parts’s dividend payout ratio is currently 51.48%.

Genuine Parts Company 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.