Genuine Parts (NYSE:GPC) Shares Sold by EP Wealth Advisors LLC

EP Wealth Advisors LLC lessened its position in Genuine Parts (NYSE:GPC) by 21.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,406 shares of the specialty retailer’s stock after selling 3,844 shares during the quarter. EP Wealth Advisors LLC’s holdings in Genuine Parts were worth $2,232,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GPC. Manchester Capital Management LLC raised its holdings in Genuine Parts by 36.1% in the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock valued at $39,000 after acquiring an additional 66 shares during the last quarter. North Star Investment Management Corp. increased its holdings in shares of Genuine Parts by 8.5% in the first quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock valued at $138,000 after purchasing an additional 70 shares during the last quarter. CHICAGO TRUST Co NA lifted its position in Genuine Parts by 3.6% during the first quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock worth $316,000 after buying an additional 71 shares in the last quarter. Checchi Capital Advisers LLC boosted 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 buying an additional 76 shares during the last quarter. Finally, Grimes & Company Inc. grew its holdings in Genuine Parts by 2.5% in the 4th quarter. Grimes & Company Inc. now owns 3,178 shares of the specialty retailer’s stock valued at $440,000 after buying an additional 79 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Genuine Parts

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

Analysts Set New Price Targets

Several research analysts have recently commented on the company. The Goldman Sachs Group reduced their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday. UBS Group dropped their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Wednesday. Wedbush cut their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Truist Financial decreased their price target on Genuine Parts from $183.00 to $164.00 and set a “buy” rating on the stock in a research note on Tuesday. Five investment 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, the stock has a consensus rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Trading Up 2.9 %

Shares of NYSE GPC traded up $4.00 during trading on Friday, reaching $141.97. The stock had a trading volume of 988,185 shares, compared to its average volume of 1,197,496. The business’s 50-day moving average price is $140.29 and its 200-day moving average price is $146.28. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $164.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.59 and a current ratio of 1.12. The company has a market cap of $19.78 billion, a P/E ratio of 15.84 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. During the same quarter last year, the company earned $2.44 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities research analysts predict that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm 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. The ex-dividend date of this dividend was Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a yield of 2.82%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

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.