Crescent Sterling Ltd. lessened its position in Genuine Parts (NYSE:GPC – Free Report) by 17.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,230 shares of the specialty retailer’s stock after selling 700 shares during the quarter. Crescent Sterling Ltd.’s holdings in Genuine Parts were worth $377,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in GPC. Ashton Thomas Securities LLC bought a new stake in Genuine Parts in the third quarter worth about $26,000. Capital Performance Advisors LLP bought a new stake in shares of Genuine Parts during the 3rd quarter worth approximately $31,000. Concord Wealth Partners boosted its holdings in Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 119 shares during the period. Catalyst Capital Advisors LLC bought a new position in Genuine Parts in the 3rd quarter valued at $44,000. Finally, Armstrong Advisory Group Inc. increased its stake in Genuine Parts by 63.8% in the third quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock worth $51,000 after purchasing an additional 141 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now directly owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.37% of the stock is owned by corporate insiders.
Genuine Parts Stock Down 0.5 %
Genuine Parts (NYSE:GPC – Get Free Report) last released its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. During the same period in the previous year, the company earned $2.49 earnings per share. Genuine Parts’s revenue was up 3.0% on a year-over-year basis. Analysts anticipate that Genuine Parts will post 8.09 EPS for the current year.
Genuine Parts Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were given a $1.00 dividend. The ex-dividend date was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.45%. Genuine Parts’s dividend payout ratio is currently 51.48%.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on GPC shares. Evercore ISI boosted their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Truist Financial lowered their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group lowered their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. decreased their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $139.57.
Read Our Latest Analysis on Genuine Parts
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.
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