United Asset Strategies Inc. Has $562,000 Position in Genuine Parts (NYSE:GPC)

United Asset Strategies Inc. trimmed its position in shares of Genuine Parts (NYSE:GPC) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,059 shares of the specialty retailer’s stock after selling 80 shares during the quarter. United Asset Strategies Inc.’s holdings in Genuine Parts were worth $562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Householder Group Estate & Retirement Specialist LLC purchased a new position in Genuine Parts during the 3rd quarter worth $25,000. OFI Invest Asset Management purchased a new position in shares of Genuine Parts in the 3rd quarter worth about $25,000. Sunbelt Securities Inc. boosted its holdings in shares of Genuine Parts by 122.2% in the 2nd quarter. Sunbelt Securities Inc. now owns 160 shares of the specialty retailer’s stock worth $27,000 after buying an additional 88 shares during the last quarter. Briaud Financial Planning Inc purchased a new position in shares of Genuine Parts in the 3rd quarter worth about $28,000. Finally, Milestone Investment Advisors LLC purchased a new position in shares of Genuine Parts in the 3rd quarter worth about $28,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Down 0.3 %

Shares of Genuine Parts stock opened at $144.07 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.63 and a current ratio of 1.23. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $174.91. The stock has a market capitalization of $20.09 billion, a price-to-earnings ratio of 15.44 and a beta of 0.94. The company’s 50 day moving average price is $149.56 and its 200-day moving average price is $142.09.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, February 15th. The specialty retailer reported $2.26 EPS for the quarter, beating the consensus estimate of $2.20 by $0.06. The business had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.64 billion. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.05 earnings per share. Equities research analysts forecast that Genuine Parts will post 9.76 EPS for the current year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $4.00 annualized dividend and a yield of 2.78%. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s dividend payout ratio (DPR) is currently 42.87%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on GPC shares. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Evercore ISI dropped their price objective on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday. Truist Financial reaffirmed a “buy” rating and set a $167.00 price objective on shares of Genuine Parts in a report on Friday, April 12th. Finally, Wedbush reaffirmed a “neutral” rating and set a $140.00 price objective on shares of Genuine Parts in a report on Friday, February 16th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $168.33.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the completion of the transaction, the director now owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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.