Genuine Parts (NYSE:GPC) Director Sells $194,214.24 in Stock

Genuine Parts (NYSE:GPC) Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the sale, the director now directly owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Genuine Parts Price Performance

NYSE GPC traded down $0.56 during trading on Friday, reaching $121.22. The company’s stock had a trading volume of 837,393 shares, compared to its average volume of 1,061,693. The firm has a fifty day moving average of $125.86 and a 200 day moving average of $134.77. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The stock has a market capitalization of $16.85 billion, a PE ratio of 15.67 and a beta of 0.94. 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 (NYSE:GPC) last posted its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share 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 the consensus estimate of $5.94 billion. During the same quarter last year, the company posted $2.49 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. Analysts expect that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be given a $1.00 dividend. The ex-dividend date is Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.30%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GPC. Franklin Resources Inc. increased its position in shares of Genuine Parts by 22.8% during the 3rd quarter. Franklin Resources Inc. now owns 221,936 shares of the specialty retailer’s stock valued at $30,947,000 after purchasing an additional 41,262 shares during the last quarter. Peapack Gladstone Financial Corp boosted its stake in Genuine Parts by 37.5% in the third quarter. Peapack Gladstone Financial Corp now owns 146,185 shares of the specialty retailer’s stock worth $20,420,000 after buying an additional 39,871 shares in the last quarter. Synovus Financial Corp grew its position in Genuine Parts by 95.4% during the third quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer’s stock valued at $54,708,000 after acquiring an additional 191,272 shares during the last quarter. Optimist Retirement Group LLC raised its stake in shares of Genuine Parts by 26.8% during the third quarter. Optimist Retirement Group LLC now owns 15,802 shares of the specialty retailer’s stock worth $2,207,000 after acquiring an additional 3,338 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its holdings in shares of Genuine Parts by 1,229.9% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 32,476 shares of the specialty retailer’s stock worth $4,536,000 after acquiring an additional 30,034 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GPC. Evercore ISI lifted their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Truist Financial lowered their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. The Goldman Sachs Group cut their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Wedbush cut their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $139.57.

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.