Genuine Parts (NYSE:GPC) Shares Sold by Albion Financial Group UT

Albion Financial Group UT reduced its stake in shares of Genuine Parts (NYSE:GPC) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,344 shares of the specialty retailer’s stock after selling 747 shares during the period. Albion Financial Group UT’s holdings in Genuine Parts were worth $3,076,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in shares of Genuine Parts during the third quarter worth about $26,000. Capital Performance Advisors LLP bought a new position in Genuine Parts during the 3rd quarter worth approximately $31,000. Concord Wealth Partners grew its position in shares of 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 acquiring an additional 119 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in shares of Genuine Parts in the 3rd quarter valued at approximately $44,000. Finally, First Financial Corp IN acquired a new stake in shares of Genuine Parts during the 4th quarter valued at approximately $44,000. Institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on GPC shares. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Truist Financial dropped their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Evercore ISI increased their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Finally, UBS Group lowered their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. 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.com, Genuine Parts currently has a consensus rating of “Hold” and an average target price of $141.50.

Genuine Parts Stock Performance

GPC stock opened at $120.10 on Wednesday. The company has a market capitalization of $16.70 billion, a P/E ratio of 15.46 and a beta of 0.95. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The company has a 50-day simple moving average of $120.55 and a 200 day simple moving average of $130.18. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter last year, the firm posted $2.49 earnings per share. Genuine Parts’s revenue was up 3.0% compared to the same quarter last year. Sell-side analysts predict that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date was Friday, December 6th. Genuine Parts’s payout ratio is 51.48%.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 1,608 shares of the business’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 sale, the director now owns 11,357 shares in the company, valued at $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is currently owned by company insiders.

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.