Genuine Parts (NYSE:GPC) Stock Holdings Decreased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. reduced its position in Genuine Parts (NYSE:GPCFree Report) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,182 shares of the specialty retailer’s stock after selling 147 shares during the period. Oppenheimer & Co. Inc.’s holdings in Genuine Parts were worth $2,103,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in GPC. Assetmark Inc. increased its position in shares of Genuine Parts by 109.1% in the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 96 shares in the last quarter. Orion Capital Management LLC purchased a new position in shares of Genuine Parts in the third quarter worth approximately $42,000. Costello Asset Management INC grew its position in Genuine Parts by 200.0% during the fourth quarter. Costello Asset Management INC now owns 300 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 200 shares in the last quarter. HHM Wealth Advisors LLC purchased a new position in Genuine Parts during the fourth quarter valued at approximately $46,000. Finally, BKM Wealth Management LLC purchased a new position in Genuine Parts during the fourth quarter valued at approximately $47,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GPC. Jefferies Financial Group boosted their price objective on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Truist Financial boosted their price objective on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, April 19th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, May 24th. Wedbush reaffirmed a “neutral” rating and set a $170.00 price objective (up from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Finally, 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, April 16th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $171.33.

Read Our Latest Report on GPC

Genuine Parts Price Performance

Shares of Genuine Parts stock opened at $145.19 on Friday. The firm has a fifty day simple moving average of $151.66 and a 200-day simple moving average of $145.97. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $170.57. The stock has a market capitalization of $20.22 billion, a price-to-earnings ratio of 16.19 and a beta of 0.92.

Genuine Parts (NYSE:GPCGet Free Report) last released its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, beating the consensus estimate of $2.15 by $0.07. The firm had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.14 EPS. On average, sell-side analysts expect 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 will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Friday, June 7th. Genuine Parts’s payout ratio is currently 44.59%.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 3,250 shares of the company’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 in the company, valued at approximately $2,230,383.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Wendy B. Needham sold 3,250 shares of the company’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 in the company, valued at approximately $2,230,383.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Wendy B. Needham sold 3,000 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 13,006 shares in the company, valued at approximately $1,967,677.74. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.

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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