Genuine Parts (NYSE:GPC) Position Raised by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its position in shares of Genuine Parts (NYSE:GPC) by 3.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 281,145 shares of the specialty retailer’s stock after acquiring an additional 9,294 shares during the period. Janney Montgomery Scott LLC’s holdings in Genuine Parts were worth $32,826,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in Genuine Parts in the 3rd quarter worth about $26,000. Capital Performance Advisors LLP acquired a new stake in Genuine Parts in the 3rd quarter valued at approximately $31,000. Concord Wealth Partners raised its stake in Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 119 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in Genuine Parts during the 3rd quarter worth $44,000. Finally, First Financial Corp IN bought a new position in shares of Genuine Parts in the fourth quarter worth $44,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analysts Set New Price Targets

GPC has been the subject of several research analyst reports. Wedbush reduced their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. UBS Group decreased their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Truist Financial decreased their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $141.50.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction 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 directly owns 11,357 shares of the company’s stock, valued at $1,371,698.46. The trade was a 12.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is owned by insiders.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $118.27 on Friday. The stock’s fifty day simple moving average is $120.32 and its 200 day simple moving average is $130.01. The stock has a market capitalization of $16.44 billion, a price-to-earnings ratio of 15.22 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. Genuine Parts has a 52-week low of $112.74 and a 52-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 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same period in the prior year, the business posted $2.49 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.38%. Genuine Parts’s dividend payout ratio is currently 51.48%.

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.