Genuine Parts Company $GPC Stock: Boston Trust Walden Corp Lowers Position

Key Points

• Boston Trust Walden Corp cut its Genuine Parts stake by 22.6% in the third quarter, selling 88,341 shares and ending the period with 301,824 shares worth about $38 million.
• Genuine Parts beat quarterly earnings and revenue estimates, reporting EPS of $2.07 and revenue of $6.52 billion; revenue rose 4.2% year over year.
• The company pays an annualized dividend of $4.25 per share, a yield of 3.4%. Analysts’ average rating is “Moderate Buy,” with a $145 average price target.

Boston Trust Walden Corp lowered its position in Genuine Parts Company (NYSE:GPC - Free Report) by 22.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 301,824 shares of the specialty retailer's stock after selling 88,341 shares during the period. Boston Trust Walden Corp owned 0.22% of Genuine Parts worth $37,951,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Chicago Partners Investment Group LLC increased its position in Genuine Parts by 32.4% during the third quarter. Chicago Partners Investment Group LLC now owns 9,007 shares of the specialty retailer's stock worth $1,108,000 after acquiring an additional 2,205 shares during the period. Sound Financial Strategies Group LLC grew its position in Genuine Parts by 6.8% in the third quarter. Sound Financial Strategies Group LLC now owns 2,850 shares of the specialty retailer's stock valued at $358,000 after acquiring an additional 181 shares during the period. Ascent Group LLC increased its holdings in shares of Genuine Parts by 59.4% during the third quarter. Ascent Group LLC now owns 8,251 shares of the specialty retailer's stock worth $1,037,000 after buying an additional 3,076 shares in the last quarter. Rakuten Investment Management Inc. raised its holdings in shares of Genuine Parts by 9.4% in the third quarter. Rakuten Investment Management Inc. now owns 24,729 shares of the specialty retailer's stock valued at $3,139,000 after buying an additional 2,133 shares during the last quarter. Finally, Provenance Wealth Advisors LLC lifted its holdings in Genuine Parts by 1,511.8% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 1,499 shares of the specialty retailer's stock worth $188,000 after buying an additional 1,406 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Performance

NYSE GPC opened at $124.65 on Friday. The company has a current ratio of 1.22, a quick ratio of 0.54 and a debt-to-equity ratio of 0.96. The firm's fifty day moving average price is $129.16 and its two-hundred day moving average price is $120.06. The firm has a market capitalization of $17.19 billion, a P/E ratio of 498.60, a price-to-earnings-growth ratio of 2.77 and a beta of 0.65. Genuine Parts Company has a 1 year low of $90.78 and a 1 year high of $151.57.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 20th. The specialty retailer reported $2.07 earnings per share for the quarter, topping analysts' consensus estimates of $2.04 by $0.03. Genuine Parts had a return on equity of 23.00% and a net margin of 0.12%. The firm had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $6.49 billion. During the same quarter in the previous year, the business earned $1.98 earnings per share. The business's revenue was up 4.2% compared to the same quarter last year. As a group, research analysts anticipate that Genuine Parts Company will post 7.62 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 4th were paid a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Friday, September 4th. Genuine Parts's dividend payout ratio is 1,700.00%.

Analyst Ratings Changes

Several research firms have recently issued reports on GPC. The Goldman Sachs Group set a $122.00 price target on Genuine Parts in a research report on Tuesday, October 20th. Truist Financial upped their price objective on Genuine Parts from $126.00 to $131.00 and gave the stock a "hold" rating in a research report on Tuesday, October 20th. DA Davidson increased their price objective on Genuine Parts from $150.00 to $170.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Raymond James Financial reissued a "strong-buy" rating and issued a $165.00 target price on shares of Genuine Parts in a research report on Wednesday, July 22nd. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Genuine Parts in a research note on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Genuine Parts presently has an average rating of "Moderate Buy" and an average price target of $145.00.

Genuine Parts Profile

Genuine Parts Company NYSE: GPC is a distributor of automotive and industrial replacement parts. Its Automotive Parts Group supplies components and accessories for cars, trucks and other vehicles, serving professional repair shops, commercial customers and do-it-yourself consumers through distribution networks, stores and digital channels.

The company's Industrial Parts Group distributes products used to maintain and repair manufacturing, commercial and other industrial equipment. Its offerings include bearings, power-transmission components, motion-control products, industrial supplies and related maintenance, repair and operations products.

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