Genuine Parts (NYSE:GPC) Holdings Raised by Cacti Asset Management LLC

Cacti Asset Management LLC raised its position in Genuine Parts (NYSE:GPC - Free Report) by 12.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,234 shares of the specialty retailer's stock after buying an additional 9,000 shares during the period. Genuine Parts makes up about 0.7% of Cacti Asset Management LLC's holdings, making the stock its 25th biggest holding. Cacti Asset Management LLC owned approximately 0.06% of Genuine Parts worth $9,640,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of GPC. Ashton Thomas Securities LLC acquired a new stake in shares of Genuine Parts in the 3rd quarter valued at about $26,000. Capital Performance Advisors LLP acquired a new stake in Genuine Parts during the third quarter valued at approximately $31,000. Concord Wealth Partners lifted its holdings in Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer's stock worth $38,000 after buying an additional 119 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Genuine Parts in the 3rd quarter worth approximately $44,000. Finally, Armstrong Advisory Group Inc. increased its holdings in shares of Genuine Parts by 63.8% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer's stock valued at $51,000 after acquiring an additional 141 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 1,608 shares of the firm's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the transaction, the director now owns 11,357 shares of the company's stock, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.37% of the stock is owned by corporate insiders.

Genuine Parts Stock Performance

Genuine Parts stock traded down $0.70 during mid-day trading on Thursday, hitting $116.06. 1,041,380 shares of the company's stock traded hands, compared to its average volume of 1,070,887. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The firm has a 50 day moving average price of $120.83 and a 200 day moving average price of $132.11. The company has a market cap of $16.14 billion, a PE ratio of 14.94 and a beta of 0.94.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share 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 the consensus estimate of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. Genuine Parts's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.49 earnings per share. On average, equities analysts forecast that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Friday, December 6th. Genuine Parts's dividend payout ratio (DPR) is presently 51.48%.

Analyst Ratings Changes

GPC has been the topic of several research analyst reports. Wedbush reduced their price objective on Genuine Parts from $145.00 to $120.00 and set a "neutral" rating on the stock 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 research report on Wednesday, October 16th. The Goldman Sachs Group lowered their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a "neutral" rating for the company in a research report on Wednesday, October 23rd. Redburn Atlantic upgraded Genuine Parts to a "hold" rating in a research note on Monday, November 11th. Finally, 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. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target 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.