Genuine Parts (NYSE:GPC) Shares Sold by Consolidated Planning Corp

Consolidated Planning Corp lowered its stake in Genuine Parts (NYSE:GPC) by 10.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,480 shares of the specialty retailer’s stock after selling 867 shares during the quarter. Consolidated Planning Corp’s holdings in Genuine Parts were worth $873,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new stake in Genuine Parts during the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new stake in Genuine Parts during the 3rd quarter valued at approximately $31,000. Synergy Asset Management LLC acquired a new stake in Genuine Parts during the 4th quarter valued at approximately $32,000. Concord Wealth Partners grew its stake in Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 119 shares in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new stake in Genuine Parts during the 3rd quarter valued at approximately $44,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Trading Up 0.4 %

Shares of NYSE GPC opened at $122.13 on Thursday. The company has a market cap of $16.98 billion, a price-to-earnings ratio of 15.72 and a beta of 0.94. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The stock’s 50 day simple moving average is $118.33 and its 200 day simple moving average is $128.03.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is 51.48%.

Wall Street Analysts Forecast Growth

GPC has been the subject of a number of recent analyst reports. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Wedbush lowered their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Truist Financial reduced their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. 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. Finally, Evercore ISI increased their target price on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Genuine Parts has a consensus rating of “Hold” and a consensus target price of $141.50.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction 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 of the company’s stock, valued at $1,371,698.46. The trade was a 12.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.37% of the company’s stock.

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.