Hendershot Investments Inc. cut its stake in shares of Genuine Parts Co. (NYSE:GPC) by 1.6% during the second quarter, Holdings Channel reports. The firm owned 11,176 shares of the company’s stock after selling 185 shares during the period. Hendershot Investments Inc.’s holdings in Genuine Parts were worth $1,312,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. NN Investment Partners Holdings N.V. bought a new stake in Genuine Parts during the first quarter worth $100,000. RPg Family Wealth Advisory LLC boosted its stake in Genuine Parts by 0.8% in the first quarter. RPg Family Wealth Advisory LLC now owns 1,008 shares of the company’s stock worth $100,000 after buying an additional 8 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake in Genuine Parts by 2.4% in the second quarter. Checchi Capital Advisers LLC now owns 1,679 shares of the company’s stock worth $170,000 after buying an additional 40 shares during the last quarter. Trust Co. of Vermont boosted its stake in Genuine Parts by 45.2% in the second quarter. Trust Co. of Vermont now owns 1,885 shares of the company’s stock worth $191,000 after buying an additional 587 shares during the last quarter. Finally, Mariner Wealth Advisors LLC bought a new stake in Genuine Parts during the first quarter worth $214,000. 71.56% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Genuine Parts Co. (NYSE:GPC) traded down 2.81% during midday trading on Friday, hitting $98.62. 762,141 shares of the company’s stock traded hands. The stock has a market cap of $14.69 billion, a P/E ratio of 21.30 and a beta of 0.92. The company has a 50 day moving average of $101.27 and a 200 day moving average of $98.83. Genuine Parts Co. has a 52 week low of $76.50 and a 52 week high of $105.97.
Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, July 19th. The company reported $1.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.29 by $0.01. Genuine Parts had a net margin of 4.59% and a return on equity of 21.79%. The business earned $3.90 billion during the quarter, compared to analyst estimates of $3.97 billion. During the same period in the previous year, the company earned $1.28 earnings per share. On average, equities analysts forecast that Genuine Parts Co. will post $4.73 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be given a $0.6575 dividend. This represents a $2.63 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Wednesday, September 7th. Genuine Parts’s payout ratio is 56.68%.
GPC has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Genuine Parts from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Susquehanna started coverage on shares of Genuine Parts in a research report on Thursday, August 25th. They set a “neutral” rating and a $102.00 target price on the stock. Gabelli lowered shares of Genuine Parts from a “buy” rating to a “hold” rating and set a $106.00 target price on the stock. in a research report on Thursday, July 14th. Wedbush restated a “neutral” rating and set a $98.00 target price on shares of Genuine Parts in a research report on Wednesday, July 20th. Finally, Argus restated a “buy” rating and set a $108.00 target price (up from $106.00) on shares of Genuine Parts in a research report on Monday, July 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $99.82.
Genuine Parts Company Profile
Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.
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