Capital Analysts LLC Sells 77 Shares of Genuine Parts (NYSE:GPC)

Capital Analysts LLC cut its holdings in Genuine Parts (NYSE:GPC) by 23.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 246 shares of the specialty retailer’s stock after selling 77 shares during the period. Capital Analysts LLC’s holdings in Genuine Parts were worth $34,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Amalgamated Bank boosted its holdings in Genuine Parts by 10.7% during the third quarter. Amalgamated Bank now owns 41,734 shares of the specialty retailer’s stock valued at $6,026,000 after acquiring an additional 4,047 shares during the period. Conning Inc. boosted its holdings in Genuine Parts by 5.9% during the fourth quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock valued at $31,501,000 after acquiring an additional 12,634 shares during the period. Teza Capital Management LLC bought a new stake in Genuine Parts during the third quarter valued at about $1,593,000. LPL Financial LLC boosted its holdings in Genuine Parts by 15.1% during the third quarter. LPL Financial LLC now owns 141,483 shares of the specialty retailer’s stock valued at $20,427,000 after acquiring an additional 18,522 shares during the period. Finally, Schwartz Investment Counsel Inc. boosted its holdings in Genuine Parts by 26.2% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 240,500 shares of the specialty retailer’s stock valued at $33,309,000 after acquiring an additional 50,000 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GPC shares. Wedbush restated a “neutral” rating and set a $170.00 price target (up from $140.00) on shares of Genuine Parts in a report on Friday. Truist Financial upped their price target on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a report on Friday. Jefferies Financial Group increased their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research note on Friday. Evercore ISI reduced their target price on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research note on Tuesday. Finally, StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $173.10.

Genuine Parts Stock Performance

NYSE:GPC opened at $162.39 on Friday. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $174.91. The company has a quick ratio of 0.63, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $22.64 billion, a PE ratio of 18.10 and a beta of 0.94. The firm has a 50-day moving average price of $150.30 and a 200 day moving average price of $142.34.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The firm had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the prior year, the business posted $2.14 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. Research analysts anticipate that Genuine Parts will post 9.85 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend was Thursday, February 29th. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s dividend payout ratio is 44.59%.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the transaction, the director now owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.37% of the company’s stock.

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.