Genuine Parts (NYSE:GPC) Shares Sold by Old North State Trust LLC

Old North State Trust LLC decreased its stake in Genuine Parts (NYSE:GPC) by 62.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,342 shares of the specialty retailer’s stock after selling 3,898 shares during the period. Old North State Trust LLC’s holdings in Genuine Parts were worth $1,044,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GPC. OLD Mission Capital LLC bought a new position in Genuine Parts in the 4th quarter worth approximately $28,000. Ten Capital Wealth Advisors LLC grew its stake in shares of Genuine Parts by 1,308.3% in the first quarter. Ten Capital Wealth Advisors LLC now owns 169 shares of the specialty retailer’s stock worth $28,000 after purchasing an additional 157 shares in the last quarter. Salem Investment Counselors Inc. increased its holdings in shares of Genuine Parts by 42.9% during the fourth quarter. Salem Investment Counselors Inc. now owns 200 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 60 shares during the period. Compass Wealth Management LLC bought a new stake in shares of Genuine Parts during the fourth quarter valued at about $35,000. Finally, Fred Alger Management LLC acquired a new stake in Genuine Parts in the third quarter worth about $42,000. Institutional investors own 77.51% of the company’s stock.

Genuine Parts Trading Up 0.8 %

Shares of NYSE:GPC traded up $1.12 during midday trading on Wednesday, reaching $148.40. The company had a trading volume of 38,135 shares, compared to its average volume of 995,704. The company has a fifty day simple moving average of $157.35 and a two-hundred day simple moving average of $161.78. The firm has a market cap of $20.84 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 1.83 and a beta of 0.90. Genuine Parts has a 1-year low of $145.30 and a 1-year high of $187.73. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.58 and a current ratio of 1.15.

Genuine Parts (NYSE:GPC) last announced its earnings results on Thursday, July 20th. The specialty retailer reported $2.44 EPS for the quarter, topping the consensus estimate of $2.34 by $0.10. Genuine Parts had a net margin of 5.30% and a return on equity of 32.43%. The company had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.96 billion. During the same period last year, the company posted $2.20 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. Research analysts predict that Genuine Parts will post 9.24 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be paid a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.56%. The ex-dividend date is Thursday, September 7th. Genuine Parts’s dividend payout ratio (DPR) is currently 44.44%.

Analyst Upgrades and Downgrades

GPC has been the topic of a number of recent analyst reports. Northcoast Research began coverage on shares of Genuine Parts in a research report on Wednesday, June 28th. They set a “buy” rating and a $195.00 price target on the stock. Evercore ISI upped their target price on Genuine Parts from $160.00 to $165.00 and gave the stock an “in-line” rating in a research report on Friday, September 8th. Stephens lowered their price target on Genuine Parts from $172.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Friday, July 21st. Bank of America raised Genuine Parts from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $185.00 to $189.00 in a research note on Thursday, June 1st. Finally, StockNews.com started coverage on Genuine Parts in a research note on Thursday, August 17th. They set a “buy” rating for the company. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.00.

Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.