Genuine Parts (NYSE:GPC) Shares Sold by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC lessened its stake in Genuine Parts (NYSE:GPC) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,851 shares of the specialty retailer’s stock after selling 109 shares during the period. Integrated Wealth Concepts LLC’s holdings in Genuine Parts were worth $259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Investment Management Corp of Ontario boosted its position in shares of Genuine Parts by 52.2% in the 3rd quarter. Investment Management Corp of Ontario now owns 4,668 shares of the specialty retailer’s stock valued at $652,000 after purchasing an additional 1,600 shares during the period. Hilltop Holdings Inc. lifted its stake in Genuine Parts by 14.5% in the third quarter. Hilltop Holdings Inc. now owns 14,400 shares of the specialty retailer’s stock valued at $2,011,000 after buying an additional 1,825 shares during the last quarter. Benjamin Edwards Inc. acquired a new stake in shares of Genuine Parts in the third quarter valued at approximately $1,237,000. B&L Asset Management LLC purchased a new position in shares of Genuine Parts during the third quarter worth approximately $377,000. Finally, Alethea Capital Management LLC acquired a new position in shares of Genuine Parts in the 3rd quarter valued at $377,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the sale, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.37% of the company’s stock.

Genuine Parts Trading Down 0.5 %

Shares of GPC stock opened at $121.17 on Friday. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The business’s fifty day moving average price is $125.55 and its 200 day moving average price is $134.60. The firm has a market capitalization of $16.85 billion, a PE ratio of 15.59 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. 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 earned $2.49 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on GPC shares. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Truist Financial dropped their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. The Goldman Sachs Group dropped their target price on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Wedbush decreased their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Finally, Evercore ISI boosted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $139.57.

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.