Farther Finance Advisors LLC Sells 608 Shares of Genuine Parts (NYSE:GPC)

Farther Finance Advisors LLC trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 18.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,692 shares of the specialty retailer’s stock after selling 608 shares during the period. Farther Finance Advisors LLC’s holdings in Genuine Parts were worth $314,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. HighTower Advisors LLC grew its holdings in Genuine Parts by 21.5% in the fourth quarter. HighTower Advisors LLC now owns 127,872 shares of the specialty retailer’s stock worth $14,930,000 after purchasing an additional 22,585 shares during the period. Wealthfront Advisers LLC grew its stake in shares of Genuine Parts by 796.3% in the 4th quarter. Wealthfront Advisers LLC now owns 66,290 shares of the specialty retailer’s stock valued at $7,740,000 after buying an additional 58,894 shares during the period. Avantax Planning Partners Inc. increased its position in Genuine Parts by 2.9% in the 4th quarter. Avantax Planning Partners Inc. now owns 16,190 shares of the specialty retailer’s stock valued at $1,890,000 after buying an additional 450 shares in the last quarter. Inspire Advisors LLC raised its stake in Genuine Parts by 13.2% during the 4th quarter. Inspire Advisors LLC now owns 4,217 shares of the specialty retailer’s stock worth $492,000 after buying an additional 491 shares during the period. Finally, River Road Asset Management LLC boosted its holdings in Genuine Parts by 26.3% in the fourth quarter. River Road Asset Management LLC now owns 230,193 shares of the specialty retailer’s stock worth $26,877,000 after acquiring an additional 47,987 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GPC shares. Loop Capital assumed coverage on Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Evercore ISI dropped their price objective on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Finally, Truist Financial boosted their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $137.63.

Genuine Parts Stock Performance

Shares of GPC stock opened at $123.60 on Tuesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The firm has a 50-day moving average of $120.53 and a 200-day moving average of $125.16. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company has a market cap of $17.15 billion, a P/E ratio of 19.10 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data 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 net margin of 3.85% and a return on equity of 25.28%. The firm had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same quarter last year, the business posted $2.26 EPS. Equities research analysts forecast that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Friday, March 7th. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio is 63.68%.

Genuine Parts Company 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.