LongView Wealth Management Boosts Stake in Genuine Parts (NYSE:GPC)

LongView Wealth Management lifted its stake in shares of Genuine Parts (NYSE:GPC) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 84,328 shares of the specialty retailer’s stock after buying an additional 5,745 shares during the period. Genuine Parts comprises approximately 3.0% of LongView Wealth Management’s investment portfolio, making the stock its 6th biggest position. LongView Wealth Management owned approximately 0.06% of Genuine Parts worth $9,846,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of GPC. Ashton Thomas Securities LLC bought a new position in shares of Genuine Parts during the third quarter valued at $26,000. Capital Performance Advisors LLP acquired a new position in Genuine Parts during the 3rd quarter worth about $31,000. Concord Wealth Partners grew its position in shares of Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 119 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Genuine Parts in the third quarter valued at about $44,000. Finally, Armstrong Advisory Group Inc. raised its position in shares of Genuine Parts by 63.8% during the third quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock worth $51,000 after acquiring an additional 141 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Wendy B. Needham sold 1,608 shares of the company’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 completion of the transaction, the director now directly owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GPC has been the subject of a number of recent analyst reports. The Goldman Sachs Group decreased their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. UBS Group lowered 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 note on Wednesday, October 23rd. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Wedbush lowered their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. cut their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Eight investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $141.50.

Genuine Parts Stock Performance

NYSE GPC opened at $118.43 on Friday. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The company has a market cap of $16.47 billion, a P/E ratio of 15.24 and a beta of 0.95. The company has a fifty day simple moving average of $120.69 and a 200 day simple moving average of $130.43. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC) last posted its 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 business had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.49 EPS. Sell-side analysts predict that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s dividend payout ratio is 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.