Corient Private Wealth LLC Has $3.80 Million Stock Holdings in Genuine Parts (NYSE:GPC)

Corient Private Wealth LLC cut its position in Genuine Parts (NYSE:GPC) by 14.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 32,568 shares of the specialty retailer’s stock after selling 5,286 shares during the quarter. Corient Private Wealth LLC’s holdings in Genuine Parts were worth $3,803,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Marco Investment Management LLC grew its stake in shares of Genuine Parts by 1.2% in the 3rd quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock valued at $1,104,000 after buying an additional 91 shares during the period. Hartford Financial Management Inc. boosted its stake in Genuine Parts by 0.5% during the 4th quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer’s stock valued at $2,185,000 after purchasing an additional 99 shares during the last quarter. Citizens Financial Group Inc. RI boosted its stake in Genuine Parts by 2.8% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer’s stock valued at $533,000 after purchasing an additional 103 shares during the last quarter. New York Life Investment Management LLC boosted its stake in Genuine Parts by 0.6% during the 4th quarter. New York Life Investment Management LLC now owns 18,743 shares of the specialty retailer’s stock valued at $2,188,000 after purchasing an additional 108 shares during the last quarter. Finally, Grimes & Company Inc. boosted its stake in Genuine Parts by 3.3% during the 4th quarter. Grimes & Company Inc. now owns 3,494 shares of the specialty retailer’s stock valued at $408,000 after purchasing an additional 111 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Price Performance

Genuine Parts stock opened at $118.93 on Friday. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The company’s 50 day moving average price is $120.99 and its two-hundred day moving average price is $124.70. 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 stock has a market cap of $16.50 billion, a P/E ratio of 18.38 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.07. The company had revenue of $5.77 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the firm posted $2.26 EPS. On average, equities analysts predict that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors 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 3.46%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s payout ratio is 63.68%.

Wall Street Analysts Forecast Growth

GPC has been the subject of a number of analyst reports. Loop Capital initiated coverage on Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price target for the company. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Truist Financial lifted their price target on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Evercore ISI cut their price target on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Eight equities 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $137.63.

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.