GSB Wealth Management LLC Sells 1,594 Shares of Genuine Parts (NYSE:GPC)

GSB Wealth Management LLC trimmed its position in shares of Genuine Parts (NYSE:GPC) by 11.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 12,536 shares of the specialty retailer’s stock after selling 1,594 shares during the quarter. GSB Wealth Management LLC’s holdings in Genuine Parts were worth $1,464,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have 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 valued at about $26,000. Capital Performance Advisors LLP bought a new position in Genuine Parts in the third quarter worth about $31,000. Concord Wealth Partners raised its stake in Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after buying an additional 119 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in Genuine Parts in the third quarter worth about $44,000. Finally, First Financial Corp IN bought a new position in Genuine Parts in the fourth quarter worth about $44,000. 78.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Truist Financial decreased their price target 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. JPMorgan Chase & Co. decreased their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. The Goldman Sachs Group decreased their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Loop Capital began coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. Finally, StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Eight analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Genuine Parts currently has a consensus rating of “Hold” and a consensus target price of $141.50.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the transaction, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

Genuine Parts Trading Down 1.0 %

Shares of GPC stock opened at $117.19 on Friday. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The firm’s 50 day moving average is $120.21 and its 200 day moving average is $129.90. The stock has a market capitalization of $16.29 billion, a P/E ratio of 15.08 and a beta of 0.95.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (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 company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter 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. Research analysts expect that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were given a $1.00 dividend. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.41%. Genuine Parts’s payout ratio is presently 51.48%.

Genuine Parts Company 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.