Genuine Parts (NYSE:GPC) Stock Holdings Trimmed by Private Advisor Group LLC

Private Advisor Group LLC lessened its holdings in shares of Genuine Parts (NYSE:GPC) by 7.3% in the fourth quarter, HoldingsChannel reports. The fund owned 23,562 shares of the specialty retailer’s stock after selling 1,856 shares during the period. Private Advisor Group LLC’s holdings in Genuine Parts were worth $2,751,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Ashton Thomas Securities LLC acquired a new stake in Genuine Parts in the third quarter worth about $26,000. Kestra Investment Management LLC bought a new stake in shares of Genuine Parts during the 4th quarter worth about $28,000. Capital Performance Advisors LLP acquired a new stake in shares of Genuine Parts in the 3rd quarter worth approximately $31,000. Synergy Asset Management LLC bought a new position in shares of Genuine Parts in the fourth quarter valued at approximately $32,000. Finally, Concord Wealth Partners increased its stake in shares of Genuine Parts by 79.3% during the third 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. 78.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Genuine Parts Price Performance

GPC stock opened at $122.19 on Tuesday. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The firm has a 50-day moving average of $118.36 and a two-hundred day moving average of $126.88. The firm has a market capitalization of $16.99 billion, a PE ratio of 18.89 and a beta of 0.94. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The firm had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same quarter last year, the business posted $2.26 EPS. On average, analysts forecast that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be paid a $1.03 dividend. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 3.37%. The ex-dividend date is Friday, March 7th. Genuine Parts’s dividend payout ratio is currently 63.68%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GPC. Truist Financial lifted their price target on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Redburn Atlantic raised Genuine Parts to a “hold” rating in a report on Monday, November 11th. Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Loop Capital assumed coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. Finally, Evercore ISI dropped their target price on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $137.63.

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.