Corient Private Wealth LLC Sells 5,286 Shares of Genuine Parts (NYSE:GPC)

Corient Private Wealth LLC cut its holdings in shares of Genuine Parts (NYSE:GPC) by 14.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,568 shares of the specialty retailer’s stock after selling 5,286 shares during the period. Corient Private Wealth LLC’s holdings in Genuine Parts were worth $3,803,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new stake in Genuine Parts during the fourth quarter worth $28,000. First Command Advisory Services Inc. bought a new stake in Genuine Parts during the fourth quarter worth $28,000. Compass Planning Associates Inc bought a new stake in Genuine Parts during the fourth quarter worth $29,000. Synergy Asset Management LLC bought a new stake in Genuine Parts during the fourth quarter worth $32,000. Finally, OFI Invest Asset Management bought a new position in shares of Genuine Parts in the 4th quarter valued at $34,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Down 1.5 %

Shares of NYSE:GPC opened at $118.93 on Friday. The firm has a market cap of $16.50 billion, a P/E ratio of 18.38 and a beta of 0.93. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The business has a fifty day simple moving average of $120.99 and a 200 day simple moving average of $124.70.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The business had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same period last year, the company earned $2.26 EPS. Analysts predict that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be issued a dividend of $1.03 per share. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 63.68%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GPC shares. Evercore ISI dropped their price target on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Truist Financial increased their price target on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Finally, Loop Capital started coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. Eight analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $137.63.

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.