Grimes & Company Inc. Has $354,000 Position in Genuine Parts Co. (GPC)
Grimes & Company Inc. cut its position in shares of Genuine Parts Co. (NYSE:GPC) by 5.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,504 shares of the company’s stock after selling 210 shares during the period. Grimes & Company Inc.’s holdings in Genuine Parts were worth $354,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in GPC. RPg Family Wealth Advisory LLC boosted its position in Genuine Parts by 0.8% in the first quarter. RPg Family Wealth Advisory LLC now owns 1,008 shares of the company’s stock worth $100,000 after buying an additional 8 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new position in Genuine Parts during the first quarter worth about $100,000. Checchi Capital Advisers LLC boosted its position in Genuine Parts by 2.4% in the second quarter. Checchi Capital Advisers LLC now owns 1,679 shares of the company’s stock worth $170,000 after buying an additional 40 shares in the last quarter. Trust Co. of Vermont boosted its position in Genuine Parts by 45.2% in the second quarter. Trust Co. of Vermont now owns 1,885 shares of the company’s stock worth $191,000 after buying an additional 587 shares in the last quarter. Finally, Mariner Wealth Advisors LLC acquired a new position in Genuine Parts during the first quarter worth about $214,000. 71.56% of the stock is owned by institutional investors and hedge funds.
Genuine Parts Co. (NYSE:GPC) traded up 1.19% during trading on Wednesday, hitting $99.93. The stock had a trading volume of 420,954 shares. The stock has a 50 day moving average of $101.25 and a 200 day moving average of $98.81. Genuine Parts Co. has a one year low of $76.50 and a one year high of $105.97. The firm has a market capitalization of $14.88 billion, a P/E ratio of 21.58 and a beta of 0.92.
Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, July 19th. The company reported $1.28 EPS for the quarter, missing the consensus estimate of $1.29 by $0.01. The firm earned $3.90 billion during the quarter, compared to the consensus estimate of $3.97 billion. Genuine Parts had a net margin of 4.59% and a return on equity of 21.79%. During the same quarter in the prior year, the business posted $1.28 earnings per share. Equities research analysts expect that Genuine Parts Co. will post $4.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be given a $0.6575 dividend. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $2.63 annualized dividend and a yield of 2.63%. Genuine Parts’s dividend payout ratio is presently 56.68%.
A number of research firms recently issued reports on GPC. Zacks Investment Research raised Genuine Parts from a “sell” rating to a “hold” rating and set a $115.00 price target for the company in a report on Friday, July 15th. Argus reiterated a “buy” rating and issued a $108.00 price objective (up from $106.00) on shares of Genuine Parts in a research report on Monday, July 25th. Wedbush reiterated a “neutral” rating and issued a $98.00 price objective on shares of Genuine Parts in a research report on Wednesday, July 20th. Jefferies Group lowered Genuine Parts from a “buy” rating to a “hold” rating and set a $112.00 price objective for the company. in a research report on Friday, July 15th. Finally, Gabelli lowered Genuine Parts from a “buy” rating to a “hold” rating and set a $106.00 price objective for the company. in a research report on Thursday, July 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $99.82.
Genuine Parts Company Profile
Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.
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