Sasco Capital Inc. CT Lowers Stake in Genuine Parts (NYSE:GPC)

Sasco Capital Inc. CT decreased its holdings in shares of Genuine Parts (NYSE:GPC - Free Report) by 15.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 88,856 shares of the specialty retailer's stock after selling 15,790 shares during the period. Sasco Capital Inc. CT owned about 0.06% of Genuine Parts worth $12,411,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. First Citizens Bank & Trust Co. boosted its stake in Genuine Parts by 4.9% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer's stock valued at $224,000 after buying an additional 75 shares in the last quarter. Dover Advisors LLC grew its position in Genuine Parts by 5.1% during the 2nd quarter. Dover Advisors LLC now owns 1,756 shares of the specialty retailer's stock worth $243,000 after acquiring an additional 85 shares during the last quarter. Metis Global Partners LLC raised its holdings in shares of Genuine Parts by 1.9% in the third quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer's stock valued at $625,000 after buying an additional 85 shares during the last quarter. Blackhawk Capital Partners LLC. raised its stake in shares of Genuine Parts by 1.3% in the second quarter. Blackhawk Capital Partners LLC. now owns 6,793 shares of the specialty retailer's stock worth $940,000 after acquiring an additional 86 shares during the last quarter. Finally, Guardian Wealth Advisors LLC grew its stake in shares of Genuine Parts by 2.7% during the third quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer's stock valued at $484,000 after purchasing an additional 91 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GPC has been the topic of several recent research reports. Wedbush decreased their price target on Genuine Parts from $145.00 to $120.00 and set a "neutral" rating on the stock in a report on Wednesday, October 23rd. Truist Financial cut their price objective on Genuine Parts from $164.00 to $129.00 and set a "buy" rating on the stock in a report on Wednesday, October 23rd. Redburn Atlantic raised Genuine Parts to a "hold" rating in a research report on Monday, November 11th. JPMorgan Chase & Co. reduced their target price on Genuine Parts from $162.00 to $135.00 and set an "overweight" rating for the company in a research note on Tuesday, October 22nd. Finally, StockNews.com lowered shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $139.57.

Genuine Parts Stock Performance

Shares of NYSE GPC traded down $2.93 during trading on Tuesday, reaching $121.26. 1,053,814 shares of the stock traded hands, compared to its average volume of 1,057,045. 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 stock has a market capitalization of $16.86 billion, a P/E ratio of 15.68 and a beta of 0.92. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The company has a 50-day moving average of $130.54 and a 200-day moving average of $138.08.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its earnings results 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). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. During the same period last year, the company posted $2.49 EPS. The business's revenue was up 3.0% on a year-over-year basis. Analysts forecast that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.30%. Genuine Parts's dividend payout ratio is presently 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.