5,539 Genuine Parts Company $GPC Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. decreased its holdings in shares of Genuine Parts Company (NYSE:GPC) by 17.4% in the third quarter, Holdings Channel.com reports. The firm owned 26,296 shares of the specialty retailer’s stock after selling 5,539 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Genuine Parts were worth $3,306,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Kestra Advisory Services LLC boosted its position in shares of Genuine Parts by 7.0% in the 3rd quarter. Kestra Advisory Services LLC now owns 38,996 shares of the specialty retailer’s stock worth $4,903,000 after purchasing an additional 2,541 shares in the last quarter. Quest 10 Wealth Builders Inc. grew its stake in shares of Genuine Parts by 74.0% in the 3rd quarter. Quest 10 Wealth Builders Inc. now owns 489 shares of the specialty retailer’s stock worth $61,000 after buying an additional 208 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Genuine Parts by 7.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 109,188 shares of the specialty retailer’s stock worth $13,729,000 after buying an additional 7,465 shares during the last quarter. Chicago Partners Investment Group LLC increased its position in Genuine Parts by 32.4% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,007 shares of the specialty retailer’s stock valued at $1,108,000 after buying an additional 2,205 shares in the last quarter. Finally, Sound Financial Strategies Group LLC increased its position in Genuine Parts by 6.8% during the 3rd quarter. Sound Financial Strategies Group LLC now owns 2,850 shares of the specialty retailer’s stock valued at $358,000 after buying an additional 181 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GPC has been the topic of several analyst reports. Argus dropped their target price on Genuine Parts from $156.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, October 22nd. JPMorgan Chase & Co. raised their price target on Genuine Parts from $125.00 to $137.00 and gave the company an “overweight” rating in a report on Monday, October 12th. The Goldman Sachs Group set a $122.00 price target on Genuine Parts in a report on Tuesday, October 20th. Truist Financial lifted their price target on Genuine Parts from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Tuesday, October 20th. Finally, DA Davidson upped their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $124.65 on Friday. The firm has a market cap of $17.19 billion, a P/E ratio of 498.60, a PEG ratio of 2.77 and a beta of 0.65. Genuine Parts Company has a twelve month low of $90.78 and a twelve month high of $151.57. The company has a quick ratio of 0.54, a current ratio of 1.22 and a debt-to-equity ratio of 0.96. The company has a 50 day moving average of $129.16 and a 200 day moving average of $120.06.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, October 20th. The specialty retailer reported $2.07 EPS for the quarter, beating the consensus estimate of $2.04 by $0.03. The business had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $6.49 billion. Genuine Parts had a return on equity of 23.00% and a net margin of 0.12%. The company’s revenue was up 4.2% compared to the same quarter last year. During the same period last year, the business posted $1.98 EPS. As a group, research analysts expect that Genuine Parts Company will post 7.62 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 4th were issued a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, September 4th. Genuine Parts’s dividend payout ratio is presently 1,700.00%.

Genuine Parts 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.