Hennessy Advisors Inc. Sells 1,100 Shares of Genuine Parts (NYSE:GPC)

Hennessy Advisors Inc. trimmed its holdings in Genuine Parts (NYSE:GPC) by 5.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,000 shares of the specialty retailer’s stock after selling 1,100 shares during the quarter. Hennessy Advisors Inc.’s holdings in Genuine Parts were worth $2,102,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GPC. Metis Global Partners LLC boosted its position in Genuine Parts by 1.9% in the 3rd quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock valued at $625,000 after buying an additional 85 shares during the last quarter. Guardian Wealth Advisors LLC boosted its holdings in Genuine Parts by 2.7% in the third quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock valued at $484,000 after acquiring an additional 91 shares during the last quarter. Marco Investment Management LLC increased its position in Genuine Parts by 1.2% in the third quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock worth $1,104,000 after purchasing an additional 91 shares during the period. First Citizens Bank & Trust Co. raised its holdings in Genuine Parts by 5.9% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 1,711 shares of the specialty retailer’s stock worth $239,000 after purchasing an additional 95 shares during the last quarter. Finally, Citizens Financial Group Inc. RI lifted its position in Genuine Parts by 2.8% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer’s stock valued at $533,000 after purchasing an additional 103 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of GPC opened at $118.43 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The firm has a market capitalization of $16.47 billion, a PE ratio of 15.24 and a beta of 0.95. The stock has a 50 day simple moving average of $120.69 and a 200 day simple moving average of $130.39. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.49 EPS. Sell-side analysts predict that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were given a dividend of $1.00 per share. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.38%. Genuine Parts’s dividend payout ratio is currently 51.48%.

Analysts Set New Price Targets

A number of research firms recently weighed in on GPC. Evercore ISI boosted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Truist Financial decreased their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Loop Capital assumed coverage on Genuine Parts in a research note on Thursday. They issued a “buy” rating and a $155.00 target price on the stock. Finally, StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $141.50.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was 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 of the company’s stock, valued at $1,371,698.46. This represents a 12.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.37% of the stock is owned by corporate insiders.

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.