Delta Financial Advisors LLC Sells 284 Shares of Genuine Parts (NYSE:GPC)

Delta Financial Advisors LLC lessened its holdings in shares of Genuine Parts (NYSE:GPC) by 2.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,077 shares of the specialty retailer’s stock after selling 284 shares during the quarter. Delta Financial Advisors LLC’s holdings in Genuine Parts were worth $1,673,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Imprint Wealth LLC raised its stake in Genuine Parts by 16,507.5% in the second quarter. Imprint Wealth LLC now owns 2,611,194 shares of the specialty retailer’s stock valued at $261,119,000 after purchasing an additional 2,595,471 shares in the last quarter. Norges Bank bought a new position in Genuine Parts during the fourth quarter valued at approximately $239,384,000. Invesco Ltd. grew its position in Genuine Parts by 71.1% during the third quarter. Invesco Ltd. now owns 2,590,036 shares of the specialty retailer’s stock valued at $373,949,000 after acquiring an additional 1,076,361 shares during the last quarter. Capital World Investors bought a new position in Genuine Parts during the first quarter valued at approximately $124,130,000. Finally, International Assets Investment Management LLC grew its position in Genuine Parts by 15,175.4% during the fourth quarter. International Assets Investment Management LLC now owns 713,056 shares of the specialty retailer’s stock valued at $98,758,000 after acquiring an additional 708,388 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total transaction of $503,490.00. Following the transaction, the director now owns 14,397 shares in the company, valued at approximately $2,230,383.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Truist Financial reaffirmed a “buy” rating and issued a $167.00 target price on shares of Genuine Parts in a research note on Friday, April 12th. Wedbush reaffirmed a “neutral” rating and issued a $140.00 target price on shares of Genuine Parts in a research note on Friday, February 16th. Finally, Evercore ISI decreased their target price on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $168.33.

Genuine Parts Stock Up 12.5 %

Shares of GPC stock traded up $18.01 during mid-day trading on Thursday, reaching $162.08. 1,870,461 shares of the company’s stock traded hands, compared to its average volume of 998,050. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $174.91. The company has a market cap of $22.60 billion, a P/E ratio of 17.33 and a beta of 0.94. The company has a quick ratio of 0.63, a current ratio of 1.23 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average price is $149.56 and its 200-day moving average price is $142.09.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.06. The company had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. Genuine Parts had a net margin of 5.70% and a return on equity of 31.64%. Genuine Parts’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.14 EPS. On average, equities analysts expect that Genuine Parts will post 9.76 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a $1.00 dividend. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, February 29th. This represents a $4.00 dividend on an annualized basis and a yield of 2.47%. Genuine Parts’s payout ratio is presently 42.87%.

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.