Genuine Parts (NYSE:GPC) Shares Sold by Wealthspire Advisors LLC

Wealthspire Advisors LLC lessened its holdings in Genuine Parts (NYSE:GPC) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,240 shares of the specialty retailer’s stock after selling 153 shares during the period. Wealthspire Advisors LLC’s holdings in Genuine Parts were worth $1,141,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Amalgamated Bank lifted its stake in shares of Genuine Parts by 10.7% in the 3rd quarter. Amalgamated Bank now owns 41,734 shares of the specialty retailer’s stock valued at $6,026,000 after purchasing an additional 4,047 shares during the last quarter. ICW Investment Advisors LLC raised its holdings in shares of Genuine Parts by 2.8% in the 4th quarter. ICW Investment Advisors LLC now owns 8,084 shares of the specialty retailer’s stock valued at $1,120,000 after buying an additional 221 shares during the period. Conning Inc. raised its holdings in shares of Genuine Parts by 5.9% in the 4th quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock valued at $31,501,000 after buying an additional 12,634 shares during the period. Hunter Associates Investment Management LLC raised its holdings in shares of Genuine Parts by 20.7% in the 4th quarter. Hunter Associates Investment Management LLC now owns 11,891 shares of the specialty retailer’s stock valued at $1,646,000 after buying an additional 2,041 shares during the period. Finally, Gallacher Capital Management LLC purchased a new stake in shares of Genuine Parts in the 4th quarter valued at $256,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction that occurred 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 directly owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.37% of the stock is owned by insiders.

Genuine Parts Stock Performance

Genuine Parts stock traded down $0.67 during mid-day trading on Friday, reaching $154.67. 21,502 shares of the company were exchanged, compared to its average volume of 1,046,160. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $173.78. The firm’s 50-day simple moving average is $153.82 and its two-hundred day simple moving average is $143.77. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. The firm has a market cap of $21.55 billion, a PE ratio of 17.32 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, topping 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 company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same period last year, the firm earned $2.14 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis. Equities analysts predict that Genuine Parts will post 9.94 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a yield of 2.59%. Genuine Parts’s payout ratio is 44.59%.

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.