Genuine Parts (NYSE:GPC) Shares Acquired by Verity & Verity LLC

Verity & Verity LLC increased its stake in shares of Genuine Parts (NYSE:GPC) by 9.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,473 shares of the specialty retailer’s stock after purchasing an additional 9,199 shares during the period. Verity & Verity LLC owned 0.08% of Genuine Parts worth $12,198,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of Genuine Parts by 21.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock valued at $189,296,000 after acquiring an additional 239,858 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Genuine Parts in the 2nd quarter valued at about $10,900,000. Edgestream Partners L.P. boosted its stake in shares of Genuine Parts by 266.5% during the 2nd quarter. Edgestream Partners L.P. now owns 6,007 shares of the specialty retailer’s stock worth $831,000 after purchasing an additional 4,368 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Genuine Parts by 26.9% during the second quarter. Amalgamated Bank now owns 36,809 shares of the specialty retailer’s stock worth $5,091,000 after buying an additional 7,799 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Genuine Parts by 4.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 9,498 shares of the specialty retailer’s stock valued at $1,311,000 after buying an additional 439 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the sale, the director now owns 11,357 shares in the company, valued at $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.37% of the stock is currently owned by corporate insiders.

Genuine Parts Price Performance

Genuine Parts stock opened at $118.43 on Friday. The firm has a fifty day moving average of $120.69 and a 200-day moving average of $130.43. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The firm has a market capitalization of $16.47 billion, a P/E ratio of 15.24 and a beta of 0.95.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data 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). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter in the prior year, the business earned $2.49 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, analysts predict that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a dividend of $1.00 per share. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.38%. Genuine Parts’s dividend payout ratio is presently 51.48%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. UBS Group lowered their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Truist Financial dropped their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Wedbush lowered their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Finally, The Goldman Sachs Group dropped their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Genuine Parts currently has an average rating of “Hold” and an average target price of $141.50.

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.