1832 Asset Management L.P. Sells 4,048 Shares of Genuine Parts (NYSE:GPC)

1832 Asset Management L.P. lessened its stake in shares of Genuine Parts (NYSE:GPCFree Report) by 25.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,864 shares of the specialty retailer’s stock after selling 4,048 shares during the quarter. 1832 Asset Management L.P.’s holdings in Genuine Parts were worth $1,643,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Axxcess Wealth Management LLC boosted its stake in shares of Genuine Parts by 5.0% during the 3rd quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock worth $223,000 after acquiring an additional 74 shares in the last quarter. Balentine LLC boosted its stake in shares of Genuine Parts by 2.2% during the 3rd quarter. Balentine LLC now owns 3,550 shares of the specialty retailer’s stock worth $513,000 after acquiring an additional 76 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of Genuine Parts by 2.2% during the 4th 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. boosted its stake in shares of Genuine Parts by 2.5% during the 4th quarter. Grimes & Company Inc. now owns 3,178 shares of the specialty retailer’s stock worth $440,000 after acquiring an additional 79 shares in the last quarter. Finally, Fiera Capital Corp boosted its stake 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 worth $445,000 after acquiring an additional 80 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 3,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was 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 of the company’s stock, valued at approximately $1,967,677.74. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Wendy B. Needham sold 3,000 shares of the firm’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 completion of the sale, the director now directly owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $503,490.00. Following the sale, the director now directly owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, May 24th. Jefferies Financial Group increased their target price on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Truist Financial increased their target price on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Wedbush restated a “neutral” rating and set a $170.00 target price (up previously from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Finally, Evercore ISI decreased their target price on 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $171.33.

Read Our Latest Stock Analysis on GPC

Genuine Parts Price Performance

Shares of GPC stock opened at $145.19 on Monday. The stock has a 50 day moving average of $151.66 and a two-hundred day moving average of $146.03. 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 12 month low of $126.35 and a 12 month high of $170.57. The company has a market capitalization of $20.22 billion, a P/E ratio of 16.19 and a beta of 0.92.

Genuine Parts (NYSE:GPCGet Free Report) last announced its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter last year, the company earned $2.14 EPS. The company’s quarterly revenue was up .3% on a year-over-year basis. As a group, equities analysts expect that Genuine Parts will post 9.92 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a $1.00 dividend. The ex-dividend date is Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.76%. Genuine Parts’s payout ratio is presently 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.

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

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