Genuine Parts (NYSE:GPC) Shares Sold by Clean Yield Group

Clean Yield Group reduced its position in Genuine Parts (NYSE:GPC) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,117 shares of the specialty retailer’s stock after selling 150 shares during the period. Clean Yield Group’s holdings in Genuine Parts were worth $247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

A number of analysts have recently weighed in on GPC shares. Truist Financial cut their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Evercore ISI increased 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 report on Tuesday, October 22nd. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. UBS Group lowered their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Finally, Wedbush lowered their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $139.57.

Insider Buying and Selling

In other news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the transaction, the director now directly owns 11,357 shares of the company’s stock, valued at $1,371,698.46. The trade was a 12.40 % decrease in their position. The sale was disclosed in a legal 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

Genuine Parts stock traded up $0.98 during trading hours on Monday, hitting $116.89. 778,916 shares of the company traded hands, compared to its average volume of 1,013,513. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The firm has a market cap of $16.25 billion, a P/E ratio of 15.04 and a beta of 0.95. The firm’s 50-day simple moving average is $120.94 and its two-hundred day simple moving average is $131.00. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81.

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

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date was Friday, December 6th. Genuine Parts’s dividend payout ratio is presently 51.48%.

Genuine Parts Company 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.