Global Retirement Partners LLC Reduces Stock Holdings in Genuine Parts (NYSE:GPC)

Global Retirement Partners LLC lowered its holdings in shares of Genuine Parts (NYSE:GPC) by 2.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 8,860 shares of the specialty retailer’s stock after selling 217 shares during the quarter. Global Retirement Partners LLC’s holdings in Genuine Parts were worth $1,035,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Ashton Thomas Securities LLC purchased a new stake in Genuine Parts during the third quarter valued at approximately $26,000. Kestra Investment Management LLC bought a new stake in shares of Genuine Parts during the 4th quarter valued at $28,000. Capital Performance Advisors LLP bought a new stake in shares of Genuine Parts during the 3rd quarter valued at $31,000. Synergy Asset Management LLC purchased a new stake in shares of Genuine Parts in the 4th quarter worth $32,000. Finally, Concord Wealth Partners raised its holdings in Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 119 shares during the period. Institutional investors own 78.83% of the company’s stock.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 1,608 shares of the firm’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 directly owns 11,357 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Genuine Parts Price Performance

GPC stock opened at $121.68 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The company’s fifty day moving average price is $118.29 and its 200-day moving average price is $127.16. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company has a market capitalization of $16.92 billion, a PE ratio of 18.81 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last announced 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. The business had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same quarter in the previous year, the company earned $2.26 EPS. On average, equities analysts anticipate that Genuine Parts will post 7.91 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 3.39%. 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 dividend payout ratio (DPR) is currently 61.82%.

Wall Street Analyst Weigh In

Several research firms have issued reports on GPC. Loop Capital began coverage on Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 price target for the company. Truist Financial boosted their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday. Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Finally, Evercore ISI reduced their price objective 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. Eight equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and an average price target of $137.63.

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.