City Holding Co. Sells 100 Shares of Genuine Parts (NYSE:GPC)

City Holding Co. lessened its position in shares of Genuine Parts (NYSE:GPC) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,464 shares of the specialty retailer’s stock after selling 100 shares during the period. City Holding Co.’s holdings in Genuine Parts were worth $404,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Genuine Parts in the 3rd quarter valued at $26,000. Capital Performance Advisors LLP bought a new stake in shares of Genuine Parts during the 3rd quarter worth $31,000. Concord Wealth Partners boosted its stake in Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 119 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in Genuine Parts in the third quarter valued at about $44,000. Finally, Armstrong Advisory Group Inc. raised its stake in Genuine Parts by 63.8% during the third quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock worth $51,000 after acquiring an additional 141 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Stock Down 0.8 %

Shares of NYSE GPC opened at $118.43 on Tuesday. The company’s 50 day moving average price is $120.61 and its 200-day moving average price is $130.26. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The company has a market capitalization of $16.47 billion, a P/E ratio of 15.24 and a beta of 0.95.

Genuine Parts (NYSE:GPC) last released its earnings results 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). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. During the same quarter in the previous year, the firm earned $2.49 EPS. Genuine Parts’s quarterly revenue was up 3.0% on a year-over-year basis. Equities analysts forecast that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors 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 payout ratio is 51.48%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Truist Financial lowered their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Redburn Atlantic raised Genuine Parts to a “hold” rating in a report on Monday, November 11th. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group reduced their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $141.50.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the 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 transaction, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.37% of the stock is currently owned by insiders.

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.