Simmons Bank Has $2.02 Million Position in Genuine Parts (NYSE:GPC)

Simmons Bank trimmed its holdings in Genuine Parts (NYSE:GPC) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,424 shares of the specialty retailer’s stock after selling 237 shares during the quarter. Simmons Bank’s holdings in Genuine Parts were worth $2,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in Genuine Parts during the third quarter worth $26,000. Capital Performance Advisors LLP bought a new position in shares of Genuine Parts during the 3rd quarter worth about $31,000. Concord Wealth Partners boosted its position in shares of Genuine Parts by 79.3% during the 3rd 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 acquired a new stake in shares of Genuine Parts in the 2nd quarter valued at about $40,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Genuine Parts in the 3rd quarter valued at about $44,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

NYSE GPC opened at $123.70 on Thursday. The company has a fifty day moving average price of $131.29 and a 200-day moving average price of $138.94. The firm has a market cap of $17.20 billion, a price-to-earnings ratio of 15.92 and a beta of 0.92. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. During the same period in the previous year, the company posted $2.49 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities research analysts predict that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were issued a dividend of $1.00 per share. The ex-dividend date was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.23%. Genuine Parts’s dividend payout ratio (DPR) is currently 51.48%.

Wall Street Analysts Forecast Growth

GPC has been the subject of a number of research reports. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research note on Monday. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Evercore ISI boosted their price target 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. JPMorgan Chase & Co. dropped their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Finally, Truist Financial reduced their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and an average price target of $139.57.

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.