Hennessy Advisors Inc. Sells 300 Shares of Genuine Parts (NYSE:GPC)

Hennessy Advisors Inc. reduced its stake in Genuine Parts (NYSE:GPC) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,600 shares of the specialty retailer’s stock after selling 300 shares during the quarter. Hennessy Advisors Inc.’s holdings in Genuine Parts were worth $2,711,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. WD Rutherford LLC bought a new position in Genuine Parts in the 1st quarter worth $26,000. Assetmark Inc. increased its stake in Genuine Parts by 109.1% in the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after buying an additional 96 shares in the last quarter. Union Savings Bank increased its stake in Genuine Parts by 100.0% in the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after buying an additional 100 shares in the last quarter. Thompson Investment Management Inc. purchased a new position in shares of Genuine Parts during the first quarter valued at about $35,000. Finally, Stephens Consulting LLC grew its position in shares of Genuine Parts by 740.7% during the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 200 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Trading Up 0.7 %

Shares of Genuine Parts stock opened at $142.32 on Friday. The firm has a 50-day simple moving average of $138.70 and a two-hundred day simple moving average of $146.21. The company has a market cap of $19.83 billion, a P/E ratio of 15.76 and a beta of 0.92. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $164.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same quarter last year, the company earned $2.44 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. As a group, equities analysts predict that Genuine Parts will post 9.36 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be paid a $1.00 dividend. The ex-dividend date is Friday, September 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.81%. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GPC shares. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Evercore ISI decreased their price target on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research note on Wednesday, July 24th. Truist Financial cut their price objective on shares of Genuine Parts from $183.00 to $164.00 and set a “buy” rating on the stock in a report on Tuesday, July 23rd. UBS Group cut their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Finally, Wedbush dropped their price objective on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Genuine Parts currently has a consensus rating of “Hold” and a consensus price target of $161.14.

Genuine Parts 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.