Genuine Parts (NYSE:GPC) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. decreased its holdings in Genuine Parts (NYSE:GPC) by 25.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,209 shares of the specialty retailer’s stock after selling 1,082 shares during the quarter. Foster & Motley Inc.’s holdings in Genuine Parts were worth $444,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GPC. Invesco Ltd. lifted its position in Genuine Parts by 71.1% in the third quarter. Invesco Ltd. now owns 2,590,036 shares of the specialty retailer’s stock valued at $373,949,000 after purchasing an additional 1,076,361 shares during the period. International Assets Investment Management LLC grew its holdings in Genuine Parts by 15,175.4% during the fourth quarter. International Assets Investment Management LLC now owns 713,056 shares of the specialty retailer’s stock worth $98,758,000 after acquiring an additional 708,388 shares during the period. Charles Schwab Investment Management Inc. raised its position in Genuine Parts by 17.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,521,786 shares of the specialty retailer’s stock worth $345,130,000 after acquiring an additional 367,665 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Genuine Parts by 23.7% in the third quarter. Ameriprise Financial Inc. now owns 1,633,941 shares of the specialty retailer’s stock valued at $235,916,000 after acquiring an additional 313,438 shares during the period. Finally, Ceredex Value Advisors LLC purchased a new stake in shares of Genuine Parts during the 3rd quarter worth $41,647,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on GPC shares. Jefferies Financial Group raised their price objective on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Wedbush reissued a “neutral” rating and set a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Evercore ISI dropped their price objective on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Finally, Truist Financial boosted their price objective on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and a consensus price target of $173.10.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $161.80 on Thursday. The company has a 50-day simple moving average of $151.08 and a 200-day simple moving average of $142.62. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. The company has a market cap of $22.54 billion, a PE ratio of 18.04 and a beta of 0.94. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $174.91.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The business had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the previous year, the business earned $2.14 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities analysts anticipate that Genuine Parts will post 9.89 earnings per share for the current year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.47%. This is an increase from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s dividend payout ratio is currently 44.59%.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 3,250 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the sale, the director now directly owns 14,397 shares in the company, valued at $2,230,383.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.37% of the company’s stock.

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.