Janney Montgomery Scott LLC Lowers Stock Position in Genuine Parts (NYSE:GPC)

Janney Montgomery Scott LLC lessened its holdings in shares of Genuine Parts (NYSE:GPC - Free Report) by 6.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 271,851 shares of the specialty retailer's stock after selling 18,710 shares during the period. Janney Montgomery Scott LLC owned 0.20% of Genuine Parts worth $37,972,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of GPC. Concord Wealth Partners increased its position in Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer's stock valued at $38,000 after purchasing an additional 119 shares during the period. Manchester Capital Management LLC increased its position in shares of Genuine Parts by 36.1% during the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer's stock worth $39,000 after buying an additional 66 shares during the period. Triad Wealth Partners LLC bought a new position in Genuine Parts during the second quarter worth $40,000. Rosenberg Matthew Hamilton lifted its holdings in Genuine Parts by 92.2% in the second quarter. Rosenberg Matthew Hamilton now owns 371 shares of the specialty retailer's stock valued at $50,000 after buying an additional 178 shares during the period. Finally, Armstrong Advisory Group Inc. boosted its position in Genuine Parts by 63.8% during the third quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer's stock valued at $51,000 after acquiring an additional 141 shares during the last quarter. Institutional investors own 78.83% of the company's stock.

Analysts Set New Price Targets

GPC has been the topic of a number of recent analyst reports. Wedbush dropped their price objective on Genuine Parts from $145.00 to $120.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their price target on Genuine Parts from $162.00 to $135.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 22nd. The Goldman Sachs Group reduced their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a "neutral" rating for the company in a research report on Wednesday, October 23rd. Evercore ISI lifted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an "in-line" rating in a research note on Tuesday, October 22nd. Finally, UBS Group cut their target price on shares of Genuine Parts from $145.00 to $125.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Genuine Parts currently has an average rating of "Hold" and an average target price of $139.57.

Genuine Parts Stock Up 2.1 %

Shares of NYSE:GPC traded up $2.44 during trading on Monday, reaching $116.05. 1,209,088 shares of the stock were exchanged, compared to its average volume of 1,041,375. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The stock has a fifty day moving average of $134.72 and a two-hundred day moving average of $141.06. 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 firm has a market cap of $16.14 billion, a price-to-earnings ratio of 14.89 and a beta of 0.92.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts' consensus estimates of $2.42 by ($0.54). The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The firm's quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the business posted $2.49 earnings per share. Research analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.45%. Genuine Parts's dividend payout ratio (DPR) is currently 51.48%.

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.