Great Diamond Partners LLC Sells 3,155 Shares of Genuine Parts (NYSE:GPC)

Great Diamond Partners LLC cut its stake in shares of Genuine Parts (NYSE:GPC) by 65.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 1,654 shares of the specialty retailer’s stock after selling 3,155 shares during the period. Great Diamond Partners LLC’s holdings in Genuine Parts were worth $256,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. NBC Securities Inc. raised its stake in shares of Genuine Parts by 27.1% during the 4th quarter. NBC Securities Inc. now owns 3,129 shares of the specialty retailer’s stock worth $433,000 after purchasing an additional 668 shares during the period. ICW Investment Advisors LLC raised its stake in shares of Genuine Parts by 2.8% during the 4th quarter. ICW Investment Advisors LLC now owns 8,084 shares of the specialty retailer’s stock worth $1,120,000 after purchasing an additional 221 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Genuine Parts by 22.0% during the 4th quarter. BNP Paribas Financial Markets now owns 148,121 shares of the specialty retailer’s stock worth $20,515,000 after purchasing an additional 26,710 shares during the period. Stifel Financial Corp raised its stake in shares of Genuine Parts by 27.0% during the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock worth $281,078,000 after purchasing an additional 431,623 shares during the period. Finally, Conning Inc. raised its stake in shares of Genuine Parts by 5.9% during the 4th quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock worth $31,501,000 after purchasing an additional 12,634 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Genuine Parts

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

Genuine Parts Price Performance

GPC stock traded up $2.34 during mid-day trading on Wednesday, reaching $144.06. 925,615 shares of the company traded hands, compared to its average volume of 998,951. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. The company has a market capitalization of $20.07 billion, a P/E ratio of 16.02 and a beta of 0.92. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $168.84. The company has a fifty day moving average price of $142.82 and a 200-day moving average price of $146.30.

Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. The business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.14 EPS. As a group, analysts anticipate that Genuine Parts will post 9.92 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend was Friday, June 7th. Genuine Parts’s payout ratio is presently 44.59%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. UBS Group lowered their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Jefferies Financial Group boosted their price objective on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Evercore ISI lowered their price objective on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research note on Tuesday. Truist Financial boosted their price objective on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Finally, StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $167.13.

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.