Genuine Parts (NYSE:GPC) Shares Down 4.7% – Time to Sell?

Genuine Parts (NYSE:GPC) shares traded down 4.7% during trading on Tuesday . The company traded as low as $119.70 and last traded at $118.98. 356,671 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 1,524,363 shares. The stock had previously closed at $124.90.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GPC. Truist Financial lowered 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. JPMorgan Chase & Co. lowered their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. The Goldman Sachs Group decreased their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. 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 report 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $141.50.

Genuine Parts Stock Performance

The company has a market capitalization of $16.92 billion, a P/E ratio of 15.67 and a beta of 0.94. 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 business’s fifty day simple moving average is $118.27 and its 200-day simple moving average is $127.34.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.07. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. During the same period in the previous year, the business earned $2.26 EPS. As a group, equities analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be given a dividend of $1.03 per share. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.38%. Genuine Parts’s dividend payout ratio is currently 51.48%.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the 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 $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.37% of the stock is currently owned by insiders.

Institutional Trading of Genuine Parts

Large investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC purchased a new position in Genuine Parts in the third quarter worth about $26,000. Millstone Evans Group LLC purchased a new position in shares of Genuine Parts in the 4th quarter worth approximately $25,000. Capital Performance Advisors LLP bought a new position in shares of Genuine Parts during the 3rd quarter valued at approximately $31,000. Kestra Investment Management LLC purchased a new stake in Genuine Parts during the 4th quarter valued at $28,000. Finally, First Command Advisory Services Inc. bought a new stake in shares of Genuine Parts in the 4th quarter worth about $28,000. 78.83% of the stock is currently owned by institutional investors.

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.