International Assets Investment Management LLC Sells 8,873 Shares of Genuine Parts Company $GPC

International Assets Investment Management LLC lowered its position in Genuine Parts Company (NYSE:GPC) by 47.0% during the 3rd quarter, Holdings Channel reports. The firm owned 10,000 shares of the specialty retailer’s stock after selling 8,873 shares during the quarter. International Assets Investment Management LLC’s holdings in Genuine Parts were worth $1,257,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Compass Wealth Management LLC bought a new stake in Genuine Parts during the 3rd quarter valued at $25,000. Elevation Wealth Partners LLC lifted its holdings in shares of Genuine Parts by 510.9% in the 2nd quarter. Elevation Wealth Partners LLC now owns 281 shares of the specialty retailer’s stock worth $33,000 after buying an additional 235 shares during the period. Latitude Advisors LLC purchased a new stake in shares of Genuine Parts in the 3rd quarter worth $37,000. EFG International AG bought a new position in shares of Genuine Parts during the 2nd quarter worth $36,000. Finally, Clearstead Trust LLC bought a new position in shares of Genuine Parts during the 2nd quarter worth $48,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Stock Up 1.7%

Shares of GPC stock opened at $126.36 on Thursday. Genuine Parts Company has a 1-year low of $90.78 and a 1-year high of $151.57. The stock’s fifty day moving average price is $129.45 and its 200 day moving average price is $120.12. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.22 and a quick ratio of 0.54. The company has a market cap of $17.42 billion, a price-to-earnings ratio of 505.46, a price-to-earnings-growth ratio of 2.72 and a beta of 0.65.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, October 20th. The specialty retailer reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.03. Genuine Parts had a net margin of 0.12% and a return on equity of 23.00%. The company had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.49 billion. During the same period last year, the business earned $1.98 EPS. Genuine Parts’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, research analysts expect that Genuine Parts Company will post 7.62 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Friday, September 4th were given a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, September 4th. Genuine Parts’s dividend payout ratio (DPR) is currently 1,700.00%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Truist Financial raised their price target on Genuine Parts from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Tuesday, October 20th. Evercore reaffirmed an “outperform” rating on shares of Genuine Parts in a research note on Wednesday, July 22nd. Raymond James Financial reiterated a “strong-buy” rating and set a $165.00 target price on shares of Genuine Parts in a report on Wednesday, July 22nd. DA Davidson raised their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Finally, UBS Group raised their target price on shares of Genuine Parts from $122.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $145.00.

Genuine Parts Company Profile

Genuine Parts Company (NYSE:GPC) is a distributor of automotive and industrial replacement parts. Its Automotive Parts Group supplies components and accessories for cars, trucks and other vehicles, serving professional repair shops, commercial customers and do-it-yourself consumers through distribution networks, stores and digital channels.

The company’s Industrial Parts Group distributes products used to maintain and repair manufacturing, commercial and other industrial equipment. Its offerings include bearings, power-transmission components, motion-control products, industrial supplies and related maintenance, repair and operations products.