Nixon Peabody Trust Co. Sells 100 Shares of Genuine Parts (NYSE:GPC)

Nixon Peabody Trust Co. reduced its holdings in Genuine Parts (NYSE:GPC) by 2.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,800 shares of the specialty retailer’s stock after selling 100 shares during the quarter. Nixon Peabody Trust Co.’s holdings in Genuine Parts were worth $531,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group decreased their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Evercore ISI upped their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Truist Financial decreased their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Trading Up 1.0 %

Shares of NYSE:GPC traded up $1.26 during midday trading on Monday, hitting $123.88. 31,267 shares of the stock traded hands, compared to its average volume of 1,053,138. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The stock has a market capitalization of $17.22 billion, a PE ratio of 15.78 and a beta of 0.92. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The business’s 50 day moving average is $130.79 and its two-hundred day moving average is $138.31.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter last year, the company posted $2.49 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, research analysts forecast that Genuine Parts will post 8.09 earnings per share 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 given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s dividend payout ratio is presently 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.