Global Retirement Partners LLC Trims Stock Position in Genuine Parts (NYSE:GPC)

Global Retirement Partners LLC cut its stake in Genuine Parts (NYSE:GPC) by 2.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,860 shares of the specialty retailer’s stock after selling 217 shares during the quarter. Global Retirement Partners LLC’s holdings in Genuine Parts were worth $1,035,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of GPC. Ashton Thomas Securities LLC bought a new position in Genuine Parts in the third quarter worth about $26,000. Kestra Investment Management LLC purchased a new position in shares of Genuine Parts during the 4th quarter worth approximately $28,000. Capital Performance Advisors LLP bought a new position in shares of Genuine Parts in the 3rd quarter worth approximately $31,000. Synergy Asset Management LLC purchased a new position in shares of Genuine Parts in the 4th quarter valued at approximately $32,000. Finally, Concord Wealth Partners boosted its position in shares of Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 119 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Loop Capital initiated coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. Evercore ISI lowered their price target on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research report on Wednesday. Truist Financial raised their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Eight investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Genuine Parts presently has an average rating of “Hold” and a consensus target price of $137.63.

Genuine Parts Trading Down 1.3 %

NYSE:GPC opened at $121.68 on Friday. The stock has a market cap of $16.92 billion, a price-to-earnings ratio of 18.81 and a beta of 0.94. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The company’s 50 day moving average price is $118.29 and its 200-day moving average price is $127.16. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The business had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same period last year, the business posted $2.26 EPS. On average, equities research analysts forecast that Genuine Parts will post 7.91 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be given a $1.03 dividend. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a yield of 3.39%. Genuine Parts’s payout ratio is 61.82%.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the transaction, the director now directly owns 11,357 shares of the company’s stock, valued at $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.37% of the company’s stock.

About Genuine Parts

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.