Genuine Parts (NYSE:GPC) Shares Sold by First City Capital Management Inc.

First City Capital Management Inc. lowered its stake in shares of Genuine Parts (NYSE:GPC) by 3.9% during the fourth quarter, Holdings Channel reports. The firm owned 4,550 shares of the specialty retailer’s stock after selling 187 shares during the period. First City Capital Management Inc.’s holdings in Genuine Parts were worth $531,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Quantinno Capital Management LP boosted its position in shares of Genuine Parts by 74.0% in the 3rd quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock valued at $1,580,000 after purchasing an additional 4,809 shares during the period. Miramar Capital LLC grew its position in Genuine Parts by 9.8% during the 3rd quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock worth $12,264,000 after purchasing an additional 7,845 shares during the last quarter. Conning Inc. raised its holdings in shares of Genuine Parts by 8.2% in the third quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock valued at $36,499,000 after buying an additional 19,795 shares during the last quarter. WD Rutherford LLC boosted its stake in shares of Genuine Parts by 4,265.9% during the third quarter. WD Rutherford LLC now owns 7,422 shares of the specialty retailer’s stock worth $1,037,000 after buying an additional 7,252 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its stake in Genuine Parts by 23.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 303,676 shares of the specialty retailer’s stock valued at $42,417,000 after acquiring an additional 56,776 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GPC shares. Truist Financial dropped their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Wedbush reduced their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. The Goldman Sachs Group dropped their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Evercore ISI boosted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Finally, UBS Group cut their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. 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, the company currently has an average rating of “Hold” and a consensus price target of $139.57.

Insider Transactions at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.37% of the company’s stock.

Genuine Parts Stock Performance

Shares of Genuine Parts stock traded up $0.47 during trading hours on Friday, reaching $116.53. The company’s stock had a trading volume of 488,444 shares, compared to its average volume of 758,461. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The company’s 50 day simple moving average is $120.83 and its 200 day simple moving average is $132.11. The stock has a market cap of $16.20 billion, a P/E ratio of 15.00 and a beta of 0.95.

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

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date was Friday, December 6th. Genuine Parts’s payout ratio is currently 51.48%.

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.