Sterling Capital Management LLC Sells 10,922 Shares of Genuine Parts Company $GPC

Sterling Capital Management LLC lessened its holdings in Genuine Parts Company (NYSE:GPC) by 6.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 146,871 shares of the specialty retailer’s stock after selling 10,922 shares during the quarter. Sterling Capital Management LLC’s holdings in Genuine Parts were worth $18,468,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of GPC. Compass Wealth Management LLC acquired a new position in Genuine Parts during the third quarter valued at $25,000. Elevation Wealth Partners LLC boosted its position in Genuine Parts by 510.9% during the 2nd quarter. Elevation Wealth Partners LLC now owns 281 shares of the specialty retailer’s stock worth $33,000 after acquiring an additional 235 shares during the period. EFG International AG acquired a new stake in Genuine Parts during the 2nd quarter worth about $36,000. Caitong International Asset Management Co. Ltd boosted its position in Genuine Parts by 34.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 341 shares of the specialty retailer’s stock worth $42,000 after acquiring an additional 88 shares during the period. Finally, Fiduciary Financial Advisors purchased a new position in Genuine Parts during the 2nd quarter valued at about $47,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analyst Ratings Changes

GPC has been the subject of several research reports. UBS Group raised their price target on shares of Genuine Parts from $122.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of Genuine Parts from $125.00 to $137.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. Raymond James Financial reiterated a “strong-buy” rating and issued a $165.00 target price on shares of Genuine Parts in a research report on Wednesday, July 22nd. Argus lowered their price target on shares of Genuine Parts from $156.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday. Finally, The Goldman Sachs Group set a $122.00 price target on shares of Genuine Parts in a research note on Tuesday. One 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $145.00.

Genuine Parts Stock Performance

Shares of NYSE:GPC traded down $4.83 during trading on Friday, reaching $123.14. The stock had a trading volume of 1,050,135 shares, compared to its average volume of 1,013,356. Genuine Parts Company has a 52 week low of $90.78 and a 52 week high of $151.57. The firm has a market capitalization of $16.98 billion, a price-to-earnings ratio of 492.56, a P/E/G ratio of 2.39 and a beta of 0.67. The company has a quick ratio of 0.50, a current ratio of 1.22 and a debt-to-equity ratio of 0.96. The stock has a fifty day simple moving average of $131.32 and a two-hundred day simple moving average of $119.16.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, October 20th. The specialty retailer reported $2.07 earnings per share 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 firm had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.49 billion. During the same quarter in the prior year, the company earned $1.98 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, analysts anticipate that Genuine Parts Company will post 7.64 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Friday, September 4th were paid a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a yield of 3.5%. The ex-dividend date was Friday, September 4th. Genuine Parts’s dividend payout ratio is presently 1,700.00%.

About Genuine Parts

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.