Genuine Parts (NYSE:GPC) Shares Sold by Inceptionr LLC

Inceptionr LLC lowered its holdings in shares of Genuine Parts (NYSE:GPC) by 51.5% in the fourth quarter, Holdings Channel reports. The firm owned 2,905 shares of the specialty retailer’s stock after selling 3,085 shares during the quarter. Inceptionr LLC’s holdings in Genuine Parts were worth $339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in Genuine Parts during the 3rd quarter worth $26,000. Capital Performance Advisors LLP acquired a new stake in Genuine Parts during the 3rd quarter worth $31,000. Kestra Investment Management LLC acquired a new stake in Genuine Parts during the 4th quarter worth $28,000. First Command Advisory Services Inc. acquired a new stake in Genuine Parts during the 4th quarter worth $28,000. Finally, Compass Planning Associates Inc acquired a new stake in Genuine Parts during the 4th quarter worth $29,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analysts Set New Price Targets

GPC has been the subject of a number of recent research reports. Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Truist Financial upped their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Evercore ISI cut 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 report on Wednesday, February 19th. Finally, Loop Capital started coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Genuine Parts has a consensus rating of “Hold” and a consensus target price of $137.63.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now directly owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.37% of the stock is owned by corporate insiders.

Genuine Parts Stock Performance

Shares of GPC opened at $127.41 on Monday. The company has a 50-day simple moving average of $119.74 and a 200-day simple moving average of $125.97. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $17.68 billion, a PE ratio of 19.69 and a beta of 0.93. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate 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 last year, the firm posted $2.26 EPS. Equities research analysts predict that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Friday, March 7th. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio (DPR) is currently 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.