Genuine Parts (NYSE:GPC) Shares Sold by SYSTM Wealth Solutions LLC

SYSTM Wealth Solutions LLC decreased its holdings in shares of Genuine Parts (NYSE:GPC) by 39.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,447 shares of the specialty retailer’s stock after selling 6,044 shares during the quarter. SYSTM Wealth Solutions LLC’s holdings in Genuine Parts were worth $1,308,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Manchester Capital Management LLC increased its stake in 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 acquiring an additional 66 shares during the last quarter. North Star Investment Management Corp. boosted its position in shares of Genuine Parts by 8.5% during the first quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock worth $138,000 after buying an additional 70 shares during the period. CHICAGO TRUST Co NA boosted its position in shares of Genuine Parts by 3.6% during the first quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock worth $316,000 after buying an additional 71 shares during the period. First Citizens Bank & Trust Co. boosted its position in shares of Genuine Parts by 4.9% during the second quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock worth $224,000 after buying an additional 75 shares during the period. Finally, HBK Sorce Advisory LLC boosted its position in shares of Genuine Parts by 1.8% during the first quarter. HBK Sorce Advisory LLC now owns 4,437 shares of the specialty retailer’s stock worth $689,000 after buying an additional 80 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on GPC. UBS Group lowered their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research report on Saturday, September 7th. Wedbush lowered their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. The Goldman Sachs Group lowered their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Finally, Evercore ISI lowered their price target on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research report on Wednesday, July 24th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Genuine Parts currently has an average rating of “Hold” and an average target price of $161.14.

Genuine Parts Trading Down 0.1 %

NYSE:GPC opened at $137.28 on Wednesday. The firm has a market cap of $19.12 billion, a PE ratio of 15.30 and a beta of 0.90. The stock has a fifty day moving average price of $139.47 and a 200 day moving average price of $145.59. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $164.45. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The business had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the firm earned $2.44 earnings per share. Sell-side analysts anticipate that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

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.