Summit Financial Wealth Advisors LLC Sells 766 Shares of Genuine Parts (NYSE:GPC)

Summit Financial Wealth Advisors LLC decreased its position in Genuine Parts (NYSE:GPCFree Report) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,391 shares of the specialty retailer’s stock after selling 766 shares during the period. Genuine Parts comprises approximately 2.2% of Summit Financial Wealth Advisors LLC’s portfolio, making the stock its 12th biggest holding. Summit Financial Wealth Advisors LLC’s holdings in Genuine Parts were worth $9,611,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Genuine Parts during the 3rd quarter valued at $25,000. OFI Invest Asset Management bought a new stake in Genuine Parts in the 3rd quarter valued at about $25,000. Sunbelt Securities Inc. lifted its holdings in Genuine Parts by 122.2% during the second quarter. Sunbelt Securities Inc. now owns 160 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 88 shares during the last quarter. Briaud Financial Planning Inc bought a new position in Genuine Parts during the third quarter worth about $28,000. Finally, Milestone Investment Advisors LLC bought a new stake in shares of Genuine Parts in the third quarter valued at approximately $28,000. 78.83% of the stock is owned by institutional investors.

Genuine Parts Stock Down 0.2 %

Shares of NYSE GPC opened at $154.93 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.63 and a debt-to-equity ratio of 0.80. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $174.91. The firm has a market capitalization of $21.60 billion, a PE ratio of 16.61 and a beta of 0.94. The firm has a fifty day simple moving average of $147.86 and a two-hundred day simple moving average of $141.89.

Genuine Parts (NYSE:GPCGet Free Report) last issued its quarterly earnings results on Thursday, February 15th. The specialty retailer reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.06. The company had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.64 billion. Genuine Parts had a net margin of 5.70% and a return on equity of 31.64%. Genuine Parts’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business earned $2.05 EPS. Equities analysts expect that Genuine Parts will post 9.77 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be paid a dividend of $1.00 per share. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. This represents a $4.00 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date is Thursday, February 29th. Genuine Parts’s dividend payout ratio (DPR) is currently 42.87%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wedbush reaffirmed a “neutral” rating and issued a $140.00 price objective on shares of Genuine Parts in a report on Friday, February 16th. Truist Financial lifted their target price on Genuine Parts from $155.00 to $157.00 and gave the company a “buy” rating in a report on Friday, February 16th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Tuesday, March 26th. Finally, Evercore ISI lifted their price target on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, March 26th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $167.78.

Get Our Latest Stock Report on Genuine Parts

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total transaction of $503,490.00. Following the sale, the director now owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.37% of the stock is owned by company insiders.

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.

See Also

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

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