First Commonwealth Financial Corp PA Has $864,000 Stock Position in Genuine Parts (NYSE:GPC)

First Commonwealth Financial Corp PA cut its position in Genuine Parts (NYSE:GPC) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,189 shares of the specialty retailer’s stock after selling 118 shares during the period. First Commonwealth Financial Corp PA’s holdings in Genuine Parts were worth $864,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GPC. Ashton Thomas Securities LLC bought a new position in shares of Genuine Parts in the third quarter valued at about $26,000. Capital Performance Advisors LLP bought a new position in shares of Genuine Parts in the 3rd quarter worth $31,000. Concord Wealth Partners grew its stake in shares of Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 119 shares during the period. Triad Wealth Partners LLC bought a new stake in Genuine Parts in the second quarter valued at about $40,000. Finally, Catalyst Capital Advisors LLC bought a new position in Genuine Parts during the third quarter worth about $44,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GPC has been the subject of a number of analyst reports. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Evercore ISI upped their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. reduced their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. UBS Group lowered their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Finally, Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a report on Monday, November 11th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $139.57.

Genuine Parts Stock Up 0.3 %

NYSE GPC traded up $0.35 during trading on Wednesday, hitting $128.25. The stock had a trading volume of 29,921 shares, compared to its average volume of 1,053,586. The company has a market capitalization of $17.83 billion, a PE ratio of 16.46 and a beta of 0.92. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The company’s 50-day moving average price is $129.29 and its two-hundred day moving average price is $136.96. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.49 EPS. As a group, sell-side analysts forecast that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be issued a dividend of $1.00 per share. The ex-dividend date is Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.12%. Genuine Parts’s payout ratio is presently 51.48%.

About Genuine Parts

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.