Genuine Parts (NYSE:GPC) Shares Purchased by NEOS Investment Management LLC

NEOS Investment Management LLC lifted its stake in Genuine Parts (NYSE:GPCFree Report) by 33.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,990 shares of the specialty retailer’s stock after acquiring an additional 500 shares during the period. NEOS Investment Management LLC’s holdings in Genuine Parts were worth $276,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GPC. Axxcess Wealth Management LLC boosted its stake in Genuine Parts by 5.0% during the 3rd quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock valued at $223,000 after purchasing an additional 74 shares in the last quarter. Balentine LLC grew its holdings in Genuine Parts by 2.2% during the third quarter. Balentine LLC now owns 3,550 shares of the specialty retailer’s stock worth $513,000 after acquiring an additional 76 shares during the period. Checchi Capital Advisers LLC raised its position in Genuine Parts by 2.2% in the fourth quarter. Checchi Capital Advisers LLC now owns 3,530 shares of the specialty retailer’s stock worth $489,000 after acquiring an additional 76 shares in the last quarter. Grimes & Company Inc. lifted 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 acquiring an additional 79 shares during the last quarter. Finally, Fiera Capital Corp boosted its position in shares of Genuine Parts by 2.7% during the 3rd quarter. Fiera Capital Corp now owns 3,080 shares of the specialty retailer’s stock valued at $445,000 after purchasing an additional 80 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the transaction, the director now owns 13,006 shares of the company’s stock, valued at $1,967,677.74. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the transaction, the director now owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Wendy B. Needham sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the transaction, the director now directly owns 13,006 shares in the company, valued at $1,967,677.74. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on GPC shares. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, May 24th. Truist Financial increased their price objective on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Wedbush restated a “neutral” rating and issued a $170.00 target price (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Jefferies Financial Group upped their target price on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. Finally, Evercore ISI dropped their price target on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $171.33.

Read Our Latest Stock Analysis on GPC

Genuine Parts Price Performance

NYSE GPC opened at $144.62 on Friday. 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 firm has a market capitalization of $20.15 billion, a price-to-earnings ratio of 16.12 and a beta of 0.92. The company has a 50 day simple moving average of $151.86 and a 200-day simple moving average of $145.92. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $170.57.

Genuine Parts (NYSE:GPCGet Free Report) last released its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the prior year, the firm earned $2.14 EPS. The company’s revenue was up .3% compared to the same quarter last year. Equities research analysts predict that Genuine Parts will post 9.92 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a dividend of $1.00 per share. The ex-dividend date is Friday, June 7th. This represents a $4.00 annualized dividend and a dividend yield of 2.77%. Genuine Parts’s dividend payout ratio is 44.59%.

Genuine Parts Company Profile

(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.

See Also

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

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