Genuine Parts (NYSE:GPC) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC lowered its position in shares of Genuine Parts (NYSE:GPC) by 7.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,562 shares of the specialty retailer’s stock after selling 1,856 shares during the period. Private Advisor Group LLC’s holdings in Genuine Parts were worth $2,751,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GPC. Ashton Thomas Securities LLC purchased a new stake in Genuine Parts during the 3rd quarter worth $26,000. Kestra Investment Management LLC purchased a new position in Genuine Parts in the 4th quarter valued at about $28,000. Capital Performance Advisors LLP acquired a new stake in shares of Genuine Parts during the third quarter valued at about $31,000. Synergy Asset Management LLC purchased a new stake in shares of Genuine Parts during the fourth quarter worth about $32,000. Finally, Concord Wealth Partners lifted its stake in shares of Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 119 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the transaction, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.37% of the stock is currently owned by company insiders.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $122.19 on Tuesday. The company has a market cap of $16.99 billion, a PE ratio of 18.89 and a beta of 0.94. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The firm has a 50-day simple moving average of $118.36 and a 200 day simple moving average of $126.88. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.54 by $0.07. The company had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same period in the prior year, the company earned $2.26 earnings per share. On average, sell-side analysts anticipate that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be given a $1.03 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 3.37%. Genuine Parts’s dividend payout ratio (DPR) is currently 63.68%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GPC. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a report on Monday, November 11th. Truist Financial upped their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Loop Capital began coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price for the company. Finally, Evercore ISI reduced their price target on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $137.63.

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.