Ascent Group LLC Sells 696 Shares of Genuine Parts (NYSE:GPC)

Ascent Group LLC cut its holdings in Genuine Parts (NYSE:GPC) by 8.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,612 shares of the specialty retailer’s stock after selling 696 shares during the quarter. Ascent Group LLC’s holdings in Genuine Parts were worth $1,063,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. DNB Asset Management AS boosted its position in shares of Genuine Parts by 6.2% during the second quarter. DNB Asset Management AS now owns 22,000 shares of the specialty retailer’s stock valued at $3,043,000 after buying an additional 1,294 shares during the last quarter. Mather Group LLC. raised its holdings in shares of Genuine Parts by 19.5% during the second quarter. Mather Group LLC. now owns 2,977 shares of the specialty retailer’s stock valued at $412,000 after purchasing an additional 485 shares during the last quarter. CWM LLC lifted its position in Genuine Parts by 15.5% during the second quarter. CWM LLC now owns 6,659 shares of the specialty retailer’s stock valued at $921,000 after purchasing an additional 896 shares during the period. Aprio Wealth Management LLC purchased a new stake in Genuine Parts in the second quarter worth approximately $208,000. Finally, Valeo Financial Advisors LLC grew its position in Genuine Parts by 3.0% in the 2nd quarter. Valeo Financial Advisors LLC now owns 3,173 shares of the specialty retailer’s stock worth $439,000 after purchasing an additional 92 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GPC has been the topic of a number of research reports. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research note on Monday, November 11th. UBS Group dropped their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Evercore ISI boosted their price target on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group decreased their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $139.57.

Genuine Parts Stock Down 0.1 %

GPC opened at $127.38 on Wednesday. The stock has a market cap of $17.71 billion, a price-to-earnings ratio of 16.39 and a beta of 0.94. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The firm’s fifty day moving average is $128.22 and its 200 day moving average is $135.96. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45.

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 the consensus estimate of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The business had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter in the previous year, the firm earned $2.49 earnings per share. Genuine Parts’s revenue was up 3.0% on a year-over-year basis. On average, sell-side analysts forecast that Genuine Parts will post 8.09 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 Thursday, January 2nd. Shareholders of record on Friday, December 6th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) 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.