WealthPLAN Partners LLC Decreases Stock Holdings in Genuine Parts (NYSE:GPC)

WealthPLAN Partners LLC reduced its holdings in Genuine Parts (NYSE:GPC - Free Report) by 13.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,825 shares of the specialty retailer's stock after selling 4,969 shares during the period. WealthPLAN Partners LLC's holdings in Genuine Parts were worth $4,445,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GPC. Wulff Hansen & CO. lifted its holdings in shares of Genuine Parts by 13,732.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer's stock worth $216,675,000 after acquiring an additional 1,555,149 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Genuine Parts by 21.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer's stock valued at $189,296,000 after buying an additional 239,858 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of Genuine Parts by 29.6% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer's stock valued at $135,579,000 after buying an additional 223,712 shares during the period. Hamlin Capital Management LLC boosted its holdings in Genuine Parts by 12.3% during the 3rd quarter. Hamlin Capital Management LLC now owns 591,075 shares of the specialty retailer's stock valued at $82,561,000 after acquiring an additional 64,520 shares during the period. Finally, International Assets Investment Management LLC grew its position in Genuine Parts by 14,222.1% in the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer's stock valued at $81,621,000 after acquiring an additional 580,262 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on GPC. Truist Financial cut their target price on shares of Genuine Parts from $164.00 to $129.00 and set a "buy" rating on the stock in a research note on Wednesday, October 23rd. UBS Group dropped their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their target price on shares of Genuine Parts from $162.00 to $135.00 and set an "overweight" rating for the company in a research note on Tuesday, October 22nd. Wedbush cut their price target 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. Finally, Evercore ISI upped their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock an "in-line" rating in a research report on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $139.57.

Genuine Parts Stock Performance

GPC traded up $0.28 on Tuesday, hitting $122.64. 338,294 shares of the company traded hands, compared to its average volume of 1,048,747. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The company has a 50 day moving average of $132.05 and a 200-day moving average of $139.31. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $17.05 billion, a PE ratio of 15.75 and a beta of 0.92.

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

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were given a $1.00 dividend. The ex-dividend date was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.26%. Genuine Parts's payout ratio is currently 51.48%.

About Genuine Parts

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.