Genuine Parts (NYSE:GPC) Shares Sold by SYSTM Wealth Solutions LLC

SYSTM Wealth Solutions LLC lowered its position in shares of Genuine Parts (NYSE:GPC) by 39.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,447 shares of the specialty retailer’s stock after selling 6,044 shares during the period. SYSTM Wealth Solutions LLC’s holdings in Genuine Parts were worth $1,308,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Stifel Financial Corp increased its position in shares of Genuine Parts by 27.0% during the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock worth $281,078,000 after purchasing an additional 431,623 shares in the last quarter. Wulff Hansen & CO. increased its position in shares of Genuine Parts by 13,732.0% during the second quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock worth $216,675,000 after purchasing an additional 1,555,149 shares in the last quarter. Norges Bank acquired a new stake in shares of Genuine Parts during the fourth quarter worth about $215,643,000. Dimensional Fund Advisors LP increased its position in shares of Genuine Parts by 21.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock worth $189,296,000 after purchasing an additional 239,858 shares in the last quarter. Finally, Morningstar Investment Services LLC increased its position in shares of Genuine Parts by 161.2% during the fourth quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock worth $80,066,000 after purchasing an additional 357,091 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. UBS Group cut their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Evercore ISI dropped their price target on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research report on Wednesday, July 24th. The Goldman Sachs Group dropped their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Truist Financial restated a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a research report on Wednesday, August 28th. Finally, StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research report on Saturday, September 7th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and a consensus target price of $161.14.

Genuine Parts Stock Performance

NYSE GPC opened at $137.28 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average is $139.47 and its two-hundred day moving average is $145.59. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $164.45. The stock has a market capitalization of $19.12 billion, a price-to-earnings ratio of 15.30 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same quarter in the previous year, the firm posted $2.44 EPS. The business’s revenue for the quarter was up .8% on a year-over-year basis. Research analysts expect that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.91%. The ex-dividend date is Friday, September 6th. Genuine Parts’s payout ratio is 44.59%.

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.