Genuine Parts (NYSE:GPC) Shares Sold by My Legacy Advisors LLC

My Legacy Advisors LLC cut its position in shares of Genuine Parts (NYSE:GPC) by 12.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,357 shares of the specialty retailer’s stock after selling 472 shares during the period. My Legacy Advisors LLC’s holdings in Genuine Parts were worth $394,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Genuine Parts during the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP purchased a new stake in Genuine Parts in the third quarter valued at $31,000. Concord Wealth Partners lifted its stake 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 valued at $38,000 after purchasing an additional 119 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Genuine Parts during the 3rd quarter worth $44,000. Finally, First Financial Corp IN acquired a new stake in shares of Genuine Parts during the 4th quarter worth about $44,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Down 0.8 %

GPC opened at $118.43 on Friday. The business has a fifty day moving average price of $120.69 and a 200 day moving average price of $130.39. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The stock has a market capitalization of $16.47 billion, a price-to-earnings ratio of 15.24 and a beta of 0.95.

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

Genuine Parts Announces Dividend

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

Insider Transactions at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was 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 in the company, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GPC shares. Truist Financial lowered their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday. Loop Capital began coverage on Genuine Parts in a research report on Thursday. They set a “buy” rating and a $155.00 price target for the company. Finally, The Goldman Sachs Group cut their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Genuine Parts currently has an average rating of “Hold” and an average target price of $141.50.

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.