Genuine Parts (NYSE:GPC) Stock Holdings Decreased by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE lessened its stake in Genuine Parts (NYSE:GPC) by 53.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,106 shares of the specialty retailer’s stock after selling 34,984 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Genuine Parts were worth $3,515,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Millstone Evans Group LLC acquired a new stake in Genuine Parts during the fourth quarter valued at approximately $25,000. Kestra Investment Management LLC bought a new stake in shares of Genuine Parts in the 4th quarter valued at approximately $28,000. First Command Advisory Services Inc. acquired a new stake in shares of Genuine Parts during the 4th quarter valued at approximately $28,000. Compass Planning Associates Inc bought a new position in Genuine Parts during the fourth quarter worth $29,000. Finally, Synergy Asset Management LLC acquired a new position in Genuine Parts in the fourth quarter worth $32,000. Institutional investors own 78.83% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on GPC. Evercore ISI dropped 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 report on Wednesday, February 19th. Truist Financial lifted their target price on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Finally, Loop Capital assumed coverage on Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $137.63.

Genuine Parts Stock Up 0.4 %

Shares of Genuine Parts stock opened at $118.32 on Thursday. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The business’s fifty day moving average price is $121.10 and its two-hundred day moving average price is $124.31. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The company has a market capitalization of $16.42 billion, a P/E ratio of 18.29 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last announced its 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 return on equity of 25.28% and a net margin of 3.85%. The firm had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the previous year, the company earned $2.26 earnings per share. As a group, research analysts forecast that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.48%. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 63.68%.

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.