Genuine Parts (NYSE:GPC) Shares Sold by Inceptionr LLC

Inceptionr LLC trimmed its position in Genuine Parts (NYSE:GPC) by 51.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,905 shares of the specialty retailer’s stock after selling 3,085 shares during the quarter. Inceptionr LLC’s holdings in Genuine Parts were worth $339,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quantinno Capital Management LP raised its stake in shares of Genuine Parts by 74.0% in the 3rd quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock valued at $1,580,000 after acquiring an additional 4,809 shares during the period. Caprock Group LLC purchased a new stake in shares of Genuine Parts in the 4th quarter valued at approximately $540,000. Miramar Capital LLC raised its stake in shares of Genuine Parts by 9.8% in the 3rd quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock valued at $12,264,000 after acquiring an additional 7,845 shares during the period. Verity & Verity LLC raised its stake in shares of Genuine Parts by 9.7% in the 4th quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock valued at $12,198,000 after acquiring an additional 9,199 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Genuine Parts in the 4th quarter valued at approximately $21,840,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction on Friday, December 13th. The shares were 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 owns 11,357 shares in the company, valued at approximately $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 accessible through this link. 0.37% of the stock is currently owned by company insiders.

Genuine Parts Trading Up 1.2 %

NYSE GPC opened at $127.41 on Monday. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The stock has a market capitalization of $17.68 billion, a PE ratio of 19.69 and a beta of 0.93. The firm has a 50 day moving average of $119.74 and a two-hundred day moving average of $125.97.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping the consensus estimate of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The company had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the previous year, the business posted $2.26 EPS. As a group, research analysts expect that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s payout ratio is 63.68%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GPC. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Loop Capital assumed coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target on the stock. Truist Financial upped their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research note 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 on the stock in a research note on Wednesday, February 19th. 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 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. According to MarketBeat, the company currently has an average 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.