HB Wealth Management LLC Reduces Stake in Genuine Parts (NYSE:GPC)

HB Wealth Management LLC lessened its stake in shares of Genuine Parts (NYSE:GPC) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 76,217 shares of the specialty retailer’s stock after selling 632 shares during the period. HB Wealth Management LLC’s holdings in Genuine Parts were worth $8,899,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in Genuine Parts in the 3rd quarter valued at about $26,000. Capital Performance Advisors LLP acquired a new position in Genuine Parts in the third quarter valued at approximately $31,000. Concord Wealth Partners grew its position in Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 119 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in Genuine Parts during the third quarter worth $44,000. Finally, First Financial Corp IN purchased a new stake in Genuine Parts in the fourth quarter valued at $44,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

GPC has been the subject of a number of research analyst reports. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a report on Monday, November 11th. Evercore ISI lifted their price target 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. Truist Financial decreased their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Wedbush dropped their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Finally, UBS Group decreased their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Genuine Parts presently has an average rating of “Hold” and a consensus price target of $141.50.

Genuine Parts Stock Down 0.8 %

Shares of NYSE GPC opened at $118.43 on Friday. The stock has a market cap of $16.47 billion, a P/E ratio of 15.24 and a beta of 0.95. The business’s fifty day simple moving average is $120.69 and its 200-day simple moving average is $130.39. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. 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 quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. During the same period in the prior year, the business earned $2.49 EPS. Genuine Parts’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities analysts predict 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 issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Insider Buying and Selling at Genuine Parts

In related 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 in the company, 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 0.37% of the company’s stock.

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.