WealthPLAN Partners LLC Has $6.01 Million Stake in Genuine Parts (NYSE:GPC)

WealthPLAN Partners LLC trimmed its stake in Genuine Parts (NYSE:GPC) by 23.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 38,772 shares of the specialty retailer’s stock after selling 12,110 shares during the period. WealthPLAN Partners LLC’s holdings in Genuine Parts were worth $6,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Comerica Bank boosted its position in shares of Genuine Parts by 91,580.0% during the 3rd quarter. Comerica Bank now owns 100,848 shares of the specialty retailer’s stock valued at $14,561,000 after acquiring an additional 100,738 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of Genuine Parts by 12.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 15,050 shares of the specialty retailer’s stock valued at $2,173,000 after acquiring an additional 1,640 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Genuine Parts by 2.2% during the 3rd quarter. Deutsche Bank AG now owns 477,136 shares of the specialty retailer’s stock valued at $68,889,000 after acquiring an additional 10,191 shares in the last quarter. Modera Wealth Management LLC lifted its holdings in Genuine Parts by 3.3% during the 3rd quarter. Modera Wealth Management LLC now owns 3,271 shares of the specialty retailer’s stock valued at $472,000 after purchasing an additional 103 shares during the last quarter. Finally, Anchor Investment Management LLC bought a new position in Genuine Parts during the 4th quarter valued at about $130,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of the company’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 sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is owned by corporate insiders.

Genuine Parts Price Performance

Shares of NYSE GPC traded up $1.78 during trading on Friday, reaching $138.29. The company had a trading volume of 1,017,683 shares, compared to its average volume of 869,291. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $169.04. The stock has a market cap of $19.26 billion, a PE ratio of 15.42 and a beta of 0.92. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. The business’s 50 day moving average price is $143.39 and its 200-day moving average price is $146.26.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $5.84 billion. During the same quarter in the previous year, the company earned $2.14 EPS. Genuine Parts’s revenue was up .3% on a year-over-year basis. Analysts expect that Genuine Parts will post 9.92 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 7th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.89%. The ex-dividend date was Friday, June 7th. Genuine Parts’s dividend payout ratio is 44.59%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GPC shares. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Jefferies Financial Group lifted their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. UBS Group cut their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Truist Financial lifted their price target on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a report on Friday, April 19th. Finally, Wedbush reissued a “neutral” rating and set a $170.00 price target (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $167.75.

Genuine Parts 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.