Genuine Parts (NYSE:GPC) Holdings Decreased by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 13.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 13,144 shares of the specialty retailer’s stock after selling 2,120 shares during the period. Atlantic Union Bankshares Corp’s holdings in Genuine Parts were worth $1,836,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Ashton Thomas Securities LLC purchased a new position in shares of Genuine Parts during the 3rd quarter valued at $26,000. Capital Performance Advisors LLP bought a new stake in Genuine Parts in the third quarter worth approximately $31,000. Concord Wealth Partners increased its stake 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 during the last quarter. Triad Wealth Partners LLC bought a new position in shares of Genuine Parts during the 2nd quarter valued at $40,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Genuine Parts in the 3rd quarter valued at $44,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Price Performance

Shares of Genuine Parts stock opened at $126.77 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The company has a market cap of $17.63 billion, a PE ratio of 16.32 and a beta of 0.92. The firm has a fifty day moving average price of $128.63 and a two-hundred day moving average price of $136.63. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share 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 company had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter in the previous year, the business posted $2.49 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Analysts expect that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Friday, December 6th. Genuine Parts’s dividend payout ratio is presently 51.48%.

Analyst Upgrades and Downgrades

GPC has been the topic of several analyst reports. Wedbush lowered their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. UBS Group reduced their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Finally, Truist Financial decreased their price target 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 analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $139.57.

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.