Genuine Parts (NYSE:GPC) Shares Sold by Allworth Financial LP

Allworth Financial LP decreased its position in Genuine Parts (NYSE:GPC) by 10.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,394 shares of the specialty retailer’s stock after selling 391 shares during the quarter. Allworth Financial LP’s holdings in Genuine Parts were worth $399,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in GPC. Foundations Investment Advisors LLC raised its stake in Genuine Parts by 5.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 5,901 shares of the specialty retailer’s stock valued at $824,000 after purchasing an additional 280 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Genuine Parts by 17.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 11,793 shares of the specialty retailer’s stock valued at $1,647,000 after buying an additional 1,737 shares during the period. Private Advisor Group LLC grew its holdings in Genuine Parts by 3.2% in the 3rd quarter. Private Advisor Group LLC now owns 25,418 shares of the specialty retailer’s stock valued at $3,550,000 after buying an additional 799 shares during the period. International Assets Investment Management LLC grew its holdings in Genuine Parts by 14,222.1% in the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after buying an additional 580,262 shares during the period. Finally, Brighton Jones LLC grew its holdings in Genuine Parts by 7.1% in the 3rd quarter. Brighton Jones LLC now owns 2,531 shares of the specialty retailer’s stock valued at $354,000 after buying an additional 167 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the transaction, the director now owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.37% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GPC has been the subject of several recent analyst reports. Truist Financial lifted their price target on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a report on Monday, November 11th. Evercore ISI lowered their price target on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday. Loop Capital started coverage on Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. Finally, Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $137.63.

Genuine Parts Stock Down 1.3 %

Shares of NYSE:GPC opened at $121.68 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The company has a fifty day simple moving average of $118.29 and a 200 day simple moving average of $127.16. The firm has a market cap of $16.92 billion, a PE ratio of 18.81 and a beta of 0.94. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.07. The business had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same quarter in the previous year, the firm earned $2.26 earnings per share. On average, equities research analysts anticipate that Genuine Parts will post 7.91 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s payout ratio is currently 61.82%.

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.