Barlow Wealth Partners Inc. Sells 1,330 Shares of Genuine Parts (NYSE:GPC)

Barlow Wealth Partners Inc. decreased its position in shares of Genuine Parts (NYSE:GPC) by 32.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,808 shares of the specialty retailer’s stock after selling 1,330 shares during the period. Barlow Wealth Partners Inc.’s holdings in Genuine Parts were worth $330,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in Genuine Parts during the 3rd quarter valued at about $26,000. Capital Performance Advisors LLP bought a new position in shares of Genuine Parts during the third quarter valued at approximately $31,000. Concord Wealth Partners raised its holdings in shares of 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 buying an additional 119 shares during the period. Catalyst Capital Advisors LLC bought a new stake in shares of Genuine Parts during the 3rd quarter worth approximately $44,000. Finally, First Financial Corp IN purchased a new position in Genuine Parts during the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Up 1.3 %

Shares of NYSE:GPC opened at $120.10 on Wednesday. The company has a market capitalization of $16.70 billion, a PE ratio of 15.46 and a beta of 0.95. 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 has a 12-month low of $112.74 and a 12-month high of $164.45. The business’s fifty day simple moving average is $120.55 and its 200-day simple moving average is $130.18.

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

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.33%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Analyst Ratings Changes

GPC has been the subject of several research analyst reports. Truist Financial decreased their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. reduced their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. UBS Group lowered their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Finally, Evercore ISI raised their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. Eight 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 MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $141.50.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction 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. This represents a 12.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.37% of the stock is currently owned by corporate insiders.

Genuine Parts 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.