Genuine Parts (NYSE:GPC) Shares Sold by Insight Folios Inc

Insight Folios Inc lowered its stake in shares of Genuine Parts (NYSE:GPC) by 10.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,979 shares of the specialty retailer’s stock after selling 242 shares during the period. Insight Folios Inc’s holdings in Genuine Parts were worth $307,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. CHICAGO TRUST Co NA boosted its holdings in Genuine Parts by 3.6% in the first quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock valued at $316,000 after purchasing an additional 71 shares during the last quarter. Axxcess Wealth Management LLC grew its position in shares of Genuine Parts by 5.0% in the 3rd quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock worth $223,000 after acquiring an additional 74 shares in the last quarter. Checchi Capital Advisers LLC lifted its stake in Genuine Parts by 2.2% during the fourth quarter. Checchi Capital Advisers LLC now owns 3,530 shares of the specialty retailer’s stock worth $489,000 after purchasing an additional 76 shares during the last quarter. Grimes & Company Inc. lifted its position in shares of Genuine Parts by 2.5% in the 4th quarter. Grimes & Company Inc. now owns 3,178 shares of the specialty retailer’s stock worth $440,000 after buying an additional 79 shares during the last quarter. Finally, Brighton Jones LLC grew its holdings in shares of Genuine Parts by 3.9% during the fourth quarter. Brighton Jones LLC now owns 2,180 shares of the specialty retailer’s stock valued at $302,000 after purchasing an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of NYSE GPC traded down $2.60 during mid-day trading on Thursday, hitting $133.38. 645,170 shares of the stock were exchanged, compared to its average volume of 863,083. The company has a market cap of $18.58 billion, a P/E ratio of 14.88 and a beta of 0.92. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $170.57. The stock’s fifty day simple moving average is $146.85 and its two-hundred day simple moving average is $146.44.

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, beating the consensus estimate of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The firm had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter last year, the company posted $2.14 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. As a group, analysts forecast that Genuine Parts will post 9.92 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were issued a $1.00 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $4.00 annualized dividend and a yield of 3.00%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Insider Transactions at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the sale, the director now directly owns 13,006 shares in the company, valued at $1,967,677.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GPC. Evercore ISI cut their target price on Genuine Parts from $165.00 to $160.00 and set an “in-line” rating on the stock in a research note on Tuesday. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, May 24th. UBS Group lowered their target price on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday. Wedbush reaffirmed a “neutral” rating and issued a $170.00 price target (up from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Finally, Truist Financial raised their price objective on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $167.75.

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.