Insider Selling: Genuine Parts (NYSE:GPC) Director Sells $194,214.24 in Stock

Genuine Parts (NYSE:GPC) Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the sale, the director now owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Genuine Parts Stock Performance

NYSE:GPC opened at $121.17 on Friday. The business’s fifty day moving average is $125.55 and its 200 day moving average is $134.60. The firm has a market cap of $16.85 billion, a price-to-earnings ratio of 15.59 and a beta of 0.94. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results 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). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same period in the previous year, the company posted $2.49 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Research analysts predict that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.30%. Genuine Parts’s dividend payout ratio (DPR) is currently 51.48%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in shares of Genuine Parts in the third quarter worth approximately $26,000. Capital Performance Advisors LLP bought a new stake in shares of Genuine Parts during the 3rd quarter worth $31,000. Concord Wealth Partners grew its position in Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 119 shares in the last quarter. Triad Wealth Partners LLC bought a new position in Genuine Parts in the second quarter valued at $40,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in Genuine Parts during the third quarter valued at about $44,000. Institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GPC. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Truist Financial reduced their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Wedbush dropped their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $139.57.

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.