First Commonwealth Financial Corp PA Sells 118 Shares of Genuine Parts (NYSE:GPC)

First Commonwealth Financial Corp PA reduced its position in Genuine Parts (NYSE:GPC) by 1.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund 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 filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of GPC. Ashton Thomas Securities LLC bought a new position in shares of Genuine Parts during the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new stake in Genuine Parts during the 3rd quarter valued at $31,000. Concord Wealth Partners grew its stake in Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 119 shares during the last quarter. Triad Wealth Partners LLC acquired a new stake in Genuine Parts during the second quarter worth approximately $40,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Genuine Parts during the third quarter worth approximately $44,000. Institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Evercore ISI lifted their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. Wedbush lowered their price target 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. UBS Group cut their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Finally, StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $139.57.

Genuine Parts Trading Up 0.3 %

Shares of NYSE:GPC traded up $0.35 during midday trading on Wednesday, hitting $128.25. 29,921 shares of the stock were exchanged, compared to its average volume of 1,053,586. The business’s 50-day moving average price is $129.29 and its 200 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 has a 12 month low of $112.74 and a 12 month high of $164.45. The stock has a market capitalization of $17.83 billion, a price-to-earnings ratio of 16.46 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last issued its quarterly 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). The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.49 EPS. Analysts predict that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Dividend Announcement

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

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.