Commerce Bank Sells 168 Shares of Genuine Parts (NYSE:GPC)

Commerce Bank decreased its position in Genuine Parts (NYSE:GPC) by 1.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 10,466 shares of the specialty retailer’s stock after selling 168 shares during the quarter. Commerce Bank’s holdings in Genuine Parts were worth $1,462,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Prospera Private Wealth LLC bought a new stake in shares of Genuine Parts in the third quarter worth $297,000. PNC Financial Services Group Inc. increased its stake in Genuine Parts by 1.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 114,379 shares of the specialty retailer’s stock valued at $15,976,000 after buying an additional 2,021 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Genuine Parts during the 3rd quarter worth about $1,407,000. Guardian Wealth Advisors LLC boosted its stake in shares of Genuine Parts by 2.7% during the 3rd quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock worth $484,000 after buying an additional 91 shares during the last quarter. Finally, Prospera Financial Services Inc grew its holdings in shares of Genuine Parts by 36.3% in the 3rd quarter. Prospera Financial Services Inc now owns 3,732 shares of the specialty retailer’s stock valued at $522,000 after acquiring an additional 993 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on GPC. Truist Financial cut their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Evercore ISI increased their price target on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Wedbush dropped their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $139.57.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $124.80 on Friday. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The firm has a market cap of $17.35 billion, a price-to-earnings ratio of 16.06 and a beta of 0.92. The stock’s fifty day moving average price is $129.44 and its two-hundred day moving average price is $137.26. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same quarter in the previous year, the company earned $2.49 EPS. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities analysts forecast that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be issued a $1.00 dividend. The ex-dividend date is Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.21%. Genuine Parts’s dividend payout ratio is presently 51.48%.

Genuine Parts Company 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.