Larson Financial Group LLC Sells 555 Shares of Genuine Parts (NYSE:GPC)

Larson Financial Group LLC lessened its position in shares of Genuine Parts (NYSE:GPC) by 19.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,257 shares of the specialty retailer’s stock after selling 555 shares during the period. Larson Financial Group LLC’s holdings in Genuine Parts were worth $264,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in shares of Genuine Parts by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 183,533 shares of the specialty retailer’s stock valued at $25,636,000 after acquiring an additional 6,358 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Genuine Parts in the 3rd quarter valued at about $31,000. Equitable Trust Co. grew its holdings in shares of Genuine Parts by 6.3% in the 3rd quarter. Equitable Trust Co. now owns 3,145 shares of the specialty retailer’s stock valued at $439,000 after acquiring an additional 186 shares in the last quarter. CWA Asset Management Group LLC bought a new position in shares of Genuine Parts in the 3rd quarter valued at about $219,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Genuine Parts in the 3rd quarter valued at about $26,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Up 1.6 %

Shares of GPC stock opened at $129.20 on Tuesday. The firm has a 50 day moving average price of $120.01 and a two-hundred day moving average price of $125.89. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $17.93 billion, a PE ratio of 19.97 and a beta of 0.93. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data 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. The firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same period last year, the business posted $2.26 earnings per share. As a group, analysts predict that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be given a dividend of $1.03 per share. The ex-dividend date is Friday, March 7th. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 3.19%. Genuine Parts’s dividend payout ratio (DPR) is 63.68%.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GPC. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a report on Monday, November 11th. Truist Financial raised their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Evercore ISI cut their target price on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Loop Capital initiated coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price for the company. Finally, Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Eight equities 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 stock. According to MarketBeat.com, Genuine Parts has a consensus rating of “Hold” and an average target price of $137.63.

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.