Ashton Thomas Private Wealth LLC Has $361,000 Stake in Genuine Parts (NYSE:GPC)

Ashton Thomas Private Wealth LLC lowered its holdings in shares of Genuine Parts (NYSE:GPC) by 4.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,582 shares of the specialty retailer’s stock after selling 123 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Genuine Parts were worth $361,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Conning Inc. raised its position in Genuine Parts by 8.2% in the third quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock worth $36,499,000 after purchasing an additional 19,795 shares in the last quarter. WD Rutherford LLC raised its holdings in shares of Genuine Parts by 4,265.9% in the 3rd quarter. WD Rutherford LLC now owns 7,422 shares of the specialty retailer’s stock worth $1,037,000 after buying an additional 7,252 shares in the last quarter. Comerica Bank lifted its position in shares of Genuine Parts by 19.6% during the 1st quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock worth $17,609,000 after buying an additional 18,657 shares during the period. Hamlin Capital Management LLC boosted its stake in Genuine Parts by 12.3% in the 3rd quarter. Hamlin Capital Management LLC now owns 591,075 shares of the specialty retailer’s stock valued at $82,561,000 after buying an additional 64,520 shares in the last quarter. Finally, Jensen Investment Management Inc. grew its position in Genuine Parts by 13.7% in the third quarter. Jensen Investment Management Inc. now owns 48,430 shares of the specialty retailer’s stock valued at $6,765,000 after acquiring an additional 5,840 shares during the period. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

GPC stock opened at $123.87 on Friday. The company has a 50 day moving average price of $131.02 and a 200 day moving average price of $138.84. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The stock has a market capitalization of $17.22 billion, a PE ratio of 15.94 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $5.94 billion. During the same quarter in the previous year, the firm earned $2.49 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. Analysts forecast that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were paid a $1.00 dividend. 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 (DPR) is presently 51.48%.

Analyst Upgrades and Downgrades

GPC has been the subject of a number of analyst reports. Wedbush cut their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Evercore ISI upped their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Truist Financial cut their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research report on Monday. Finally, StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $139.57.

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.