First Horizon Advisors Inc. Sells 229 Shares of Genuine Parts (NYSE:GPC)

First Horizon Advisors Inc. lowered its stake in shares of Genuine Parts (NYSE:GPC) by 3.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,586 shares of the specialty retailer’s stock after selling 229 shares during the quarter. First Horizon Advisors Inc.’s holdings in Genuine Parts were worth $780,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GPC. Ashton Thomas Securities LLC purchased a new stake in Genuine Parts in the third quarter worth $26,000. Capital Performance Advisors LLP purchased a new stake in shares of Genuine Parts in the third quarter valued at approximately $31,000. Concord Wealth Partners grew its stake 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 purchasing an additional 119 shares in the last quarter. Triad Wealth Partners LLC bought a new stake in Genuine Parts during the 2nd quarter valued at $40,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Genuine Parts in the 3rd quarter worth $44,000. Institutional investors own 78.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on GPC shares. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Wedbush cut their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. The Goldman Sachs Group dropped their target price on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Truist Financial reduced their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lowered their price target 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. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Genuine Parts has an average rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Stock Performance

Shares of GPC stock opened at $122.69 on Friday. 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 stock has a market cap of $17.06 billion, a PE ratio of 15.79 and a beta of 0.92. The business has a 50-day simple moving average of $129.70 and a 200-day simple moving average of $137.60. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45.

Genuine Parts (NYSE:GPC) last posted its earnings results 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 business had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. Genuine Parts’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $2.49 earnings per share. On average, equities analysts expect that Genuine Parts will post 8.09 EPS for the current 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 given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Friday, December 6th. Genuine Parts’s dividend payout ratio is presently 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.