Genuine Parts Company $GPC Stock Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its Genuine Parts stake by 2.6%, selling 10,053 shares in the third quarter; it retained 371,020 shares valued at about $46.7 million.
• Genuine Parts reported quarterly EPS of $2.07, topping the $2.04 consensus, while revenue of $6.52 billion beat estimates and rose 4.2% year over year.
• Analysts’ average rating was “Moderate Buy”, with an average price target of $145; the company’s annualized dividend was $4.25 per share, a 3.4% yield.

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 371,020 shares of the specialty retailer's stock after selling 10,053 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.27% of Genuine Parts worth $46,652,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Compass Wealth Management LLC bought a new stake in shares of Genuine Parts during the 3rd quarter worth $25,000. Elevation Wealth Partners LLC boosted its stake in shares of Genuine Parts by 510.9% in the 2nd quarter. Elevation Wealth Partners LLC now owns 281 shares of the specialty retailer's stock valued at $33,000 after purchasing an additional 235 shares during the last quarter. Latitude Advisors LLC bought a new stake in shares of Genuine Parts during the 3rd quarter valued at about $37,000. EFG International AG bought a new stake in Genuine Parts in the second quarter valued at $36,000. Finally, Clearstead Trust LLC bought a new position in Genuine Parts in the second quarter worth approximately $48,000. Institutional investors and hedge funds own 78.83% of the company's stock.

Genuine Parts Trading Up 1.7%

Shares of GPC opened at $126.36 on Thursday. 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 has a market capitalization of $17.42 billion, a P/E ratio of 505.46, a P/E/G ratio of 2.72 and a beta of 0.65. The firm has a 50-day moving average price of $129.45 and a 200 day moving average price of $120.12. Genuine Parts Company has a 12-month low of $90.78 and a 12-month high of $151.57.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 20th. The specialty retailer reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.03. Genuine Parts had a return on equity of 23.00% and a net margin of 0.12%. The business had revenue of $6.52 billion during the quarter, compared to analysts' expectations of $6.49 billion. During the same quarter last year, the business posted $1.98 EPS. The business's quarterly revenue was up 4.2% compared to the same quarter last year. Sell-side analysts forecast that Genuine Parts Company will post 7.62 EPS for the current year.

Genuine Parts Dividend Announcement

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

Analyst Upgrades and Downgrades

GPC has been the subject of a number of recent analyst reports. DA Davidson lifted their target price on Genuine Parts from $150.00 to $170.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Argus lowered their price objective on Genuine Parts from $156.00 to $150.00 and set a "buy" rating for the company in a research report on Thursday, October 22nd. Weiss Ratings reissued a "hold (c-)" rating on shares of Genuine Parts in a report on Monday, September 21st. Raymond James Financial reiterated a "strong-buy" rating and issued a $165.00 price target on shares of Genuine Parts in a research note on Wednesday, July 22nd. Finally, The Goldman Sachs Group set a $122.00 price target on shares of Genuine Parts in a research report on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Genuine Parts currently 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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