Whittier Trust Co. of Nevada Inc. lowered its position in Genuine Parts Co. (NYSE:GPC) by 8.4% during the second quarter, Holdings Channel reports. The firm owned 7,657 shares of the company’s stock after selling 699 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Genuine Parts were worth $775,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. NN Investment Partners Holdings N.V. acquired a new stake in shares of Genuine Parts during the first quarter worth $100,000. RPg Family Wealth Advisory LLC boosted its position in Genuine Parts by 0.8% in the first quarter. RPg Family Wealth Advisory LLC now owns 1,008 shares of the company’s stock worth $100,000 after buying an additional 8 shares during the last quarter. Checchi Capital Advisers LLC boosted its position in Genuine Parts by 2.4% in the second quarter. Checchi Capital Advisers LLC now owns 1,679 shares of the company’s stock worth $170,000 after buying an additional 40 shares during the last quarter. Trust Co. of Vermont boosted its position in Genuine Parts by 45.2% in the second quarter. Trust Co. of Vermont now owns 1,885 shares of the company’s stock worth $191,000 after buying an additional 587 shares during the last quarter. Finally, Mariner Wealth Advisors LLC purchased a new position in Genuine Parts during the first quarter worth $214,000. 71.56% of the stock is owned by hedge funds and other institutional investors.
Genuine Parts Co. (NYSE:GPC) traded down 0.96% during midday trading on Friday, reaching $98.27. 433,470 shares of the company traded hands. Genuine Parts Co. has a 12 month low of $76.50 and a 12 month high of $105.97. The firm has a market capitalization of $14.63 billion, a price-to-earnings ratio of 21.22 and a beta of 0.92. The firm’s 50 day moving average price is $100.65 and its 200 day moving average price is $99.12.
Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by $0.01. The company earned $3.90 billion during the quarter, compared to analyst estimates of $3.97 billion. Genuine Parts had a return on equity of 21.79% and a net margin of 4.59%. During the same quarter in the prior year, the business earned $1.28 earnings per share. On average, analysts expect that Genuine Parts Co. will post $4.73 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 9th were given a $0.6575 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $2.63 annualized dividend and a yield of 2.68%. Genuine Parts’s dividend payout ratio is 56.68%.
A number of equities analysts have weighed in on GPC shares. Susquehanna started coverage on shares of Genuine Parts in a research report on Thursday, August 25th. They issued a “neutral” rating and a $102.00 price objective for the company. Zacks Investment Research raised shares of Genuine Parts from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Gabelli cut shares of Genuine Parts from a “buy” rating to a “hold” rating and set a $106.00 price objective for the company. in a research report on Thursday, July 14th. Wedbush reissued a “neutral” rating and issued a $98.00 price objective on shares of Genuine Parts in a research report on Wednesday, July 20th. Finally, Argus reissued a “buy” rating and issued a $108.00 price objective (up from $106.00) on shares of Genuine Parts in a research report on Monday, July 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $99.82.
About Genuine Parts
Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.
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