Genuine Parts Company $GPC Shares Sold by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. lowered its position in Genuine Parts Company (NYSE:GPC) by 33.0% in the 3rd quarter, Holdings Channel reports. The firm owned 227,500 shares of the specialty retailer’s stock after selling 112,250 shares during the quarter. Schwartz Investment Counsel Inc.’s holdings in Genuine Parts were worth $28,606,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of GPC. Compass Wealth Management LLC bought a new position in Genuine Parts in the 3rd quarter valued at $25,000. Elevation Wealth Partners LLC raised its stake in shares of Genuine Parts by 510.9% during the 2nd quarter. Elevation Wealth Partners LLC now owns 281 shares of the specialty retailer’s stock worth $33,000 after acquiring an additional 235 shares in the last quarter. EFG International AG purchased a new stake in shares of Genuine Parts during the 2nd quarter valued at $36,000. Clearstead Trust LLC purchased a new stake in Genuine Parts in the second quarter valued at about $48,000. Finally, Fiduciary Financial Advisors purchased a new stake in shares of Genuine Parts during the second quarter worth about $47,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Genuine Parts from $125.00 to $137.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. Raymond James Financial reiterated a “strong-buy” rating and issued a $165.00 target price on shares of Genuine Parts in a research note on Wednesday, July 22nd. DA Davidson boosted their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Evercore restated an “outperform” rating on shares of Genuine Parts in a research note on Wednesday, July 22nd. Finally, Truist Financial raised their price target on shares of Genuine Parts from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Tuesday, October 20th. 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.00.

Genuine Parts Stock Down 1.2%

NYSE:GPC opened at $121.75 on Wednesday. The company has a 50 day moving average price of $130.79 and a 200-day moving average price of $120.35. Genuine Parts Company has a 1-year low of $90.78 and a 1-year high of $151.57.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, October 20th. The specialty retailer reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.03. The firm had revenue of $6.52 billion for the quarter, compared to analysts’ expectations of $6.49 billion. During the same period in the previous year, the company earned $1.98 earnings per share. The company’s revenue was up 4.2% compared to the same quarter last year. Analysts forecast that Genuine Parts Company will post 7.62 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Friday, September 4th were paid a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Friday, September 4th.

About Genuine Parts

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.