STAR Financial Bank Has $407,000 Stock Position in Genuine Parts (NYSE:GPC)

STAR Financial Bank lessened its holdings in shares of Genuine Parts (NYSE:GPC) by 12.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,912 shares of the specialty retailer’s stock after selling 433 shares during the period. STAR Financial Bank’s holdings in Genuine Parts were worth $407,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of GPC. Wulff Hansen & CO. increased its stake in shares of Genuine Parts by 13,732.0% in the second quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock valued at $216,675,000 after buying an additional 1,555,149 shares during the period. International Assets Investment Management LLC boosted its holdings in Genuine Parts by 14,222.1% in the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after acquiring an additional 580,262 shares during the last quarter. Boston Trust Walden Corp acquired a new stake in Genuine Parts during the 3rd quarter valued at approximately $39,474,000. Dimensional Fund Advisors LP raised its holdings in Genuine Parts by 21.3% during the 2nd 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 during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of Genuine Parts by 29.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer’s stock worth $135,579,000 after purchasing an additional 223,712 shares during the period. Institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

GPC has been the subject of several recent analyst reports. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group cut 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. JPMorgan Chase & Co. lowered their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Truist Financial cut their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Finally, Wedbush lowered their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $139.57.

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $120.76 on Thursday. The firm has a market capitalization of $16.79 billion, a price-to-earnings ratio of 15.54 and a beta of 0.92. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The business has a 50-day simple moving average of $129.96 and a 200 day simple moving average of $137.71. 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 (NYSE:GPC) last posted its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (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 analyst estimates of $5.94 billion. During the same period in the previous year, the business posted $2.49 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, research analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Friday, December 6th. Genuine Parts’s payout ratio 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.