Genuine Parts (NYSE:GPC) Shares Sold by Old Port Advisors

Old Port Advisors reduced its stake in Genuine Parts (NYSE:GPC) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,990 shares of the specialty retailer’s stock after selling 251 shares during the quarter. Old Port Advisors’ holdings in Genuine Parts were worth $1,400,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Metis Global Partners LLC lifted its holdings in Genuine Parts by 1.9% in the 3rd quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock valued at $625,000 after purchasing an additional 85 shares in the last quarter. Guardian Wealth Advisors LLC lifted its stake in shares of Genuine Parts by 2.7% during the third quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock valued at $484,000 after buying an additional 91 shares during the period. Marco Investment Management LLC boosted its position in Genuine Parts by 1.2% during the third quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock worth $1,104,000 after acquiring an additional 91 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in Genuine Parts by 4.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,216 shares of the specialty retailer’s stock worth $307,000 after acquiring an additional 95 shares during the period. Finally, Pinnacle West Asset Management Inc. grew its stake in Genuine Parts by 1.4% in the 2nd quarter. Pinnacle West Asset Management Inc. now owns 6,705 shares of the specialty retailer’s stock worth $927,000 after acquiring an additional 95 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Activity

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the transaction, the director now directly owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This represents a 12.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.37% of the company’s stock.

Genuine Parts Stock Up 0.4 %

Shares of NYSE GPC traded up $0.49 on Thursday, hitting $117.25. The company had a trading volume of 175,267 shares, compared to its average volume of 1,070,887. The firm has a market capitalization of $16.30 billion, a P/E ratio of 15.09 and a beta of 0.94. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The business has a 50 day moving average of $120.77 and a two-hundred day moving average of $132.22.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.49 EPS. As a group, equities research analysts forecast that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a $1.00 dividend. The ex-dividend date is Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.41%. Genuine Parts’s payout ratio is currently 51.48%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GPC shares. Wedbush decreased their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Evercore ISI raised their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Truist Financial decreased their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $139.57.

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.