Genuine Parts (NYSE:GPC) Shares Sold by Global Retirement Partners LLC

Global Retirement Partners LLC reduced its position in Genuine Parts (NYSE:GPCFree Report) by 36.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,086 shares of the specialty retailer’s stock after selling 3,994 shares during the quarter. Global Retirement Partners LLC’s holdings in Genuine Parts were worth $991,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Genuine Parts in the 3rd quarter worth about $25,000. OFI Invest Asset Management acquired a new stake in Genuine Parts during the 3rd quarter worth approximately $25,000. Sunbelt Securities Inc. raised its holdings in Genuine Parts by 122.2% in the second quarter. Sunbelt Securities Inc. now owns 160 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 88 shares during the period. Briaud Financial Planning Inc acquired a new position in Genuine Parts during the third quarter valued at approximately $28,000. Finally, Milestone Investment Advisors LLC purchased a new stake in Genuine Parts during the third quarter worth approximately $28,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total transaction of $503,490.00. Following the completion of the transaction, the director now directly owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GPC shares. Truist Financial raised their target price on shares of Genuine Parts from $155.00 to $157.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Wedbush reissued a “neutral” rating and issued a $140.00 price objective on shares of Genuine Parts in a research report on Friday, February 16th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research report on Tuesday, March 26th. Finally, Evercore ISI raised their target price on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, March 26th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $167.78.

Read Our Latest Analysis on GPC

Genuine Parts Stock Down 0.2 %

Shares of Genuine Parts stock opened at $154.93 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.23 and a quick ratio of 0.63. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $174.91. The business has a 50-day moving average of $147.86 and a 200-day moving average of $141.89. The company has a market capitalization of $21.60 billion, a PE ratio of 16.61 and a beta of 0.94.

Genuine Parts (NYSE:GPCGet Free Report) last issued its quarterly earnings data on Thursday, February 15th. The specialty retailer reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.06. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The firm had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.64 billion. During the same quarter last year, the firm earned $2.05 EPS. Genuine Parts’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, equities analysts forecast that Genuine Parts will post 9.77 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 1st will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, February 29th. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s payout ratio is 42.87%.

About Genuine Parts

(Free Report)

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.

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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