Genuine Parts (NYSE:GPC) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC reduced its holdings in Genuine Parts (NYSE:GPC - Free Report) by 14.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kestra Investment Management LLC purchased a new stake in shares of Genuine Parts in the 4th quarter valued at approximately $28,000. First Command Advisory Services Inc. acquired a new stake in shares of Genuine Parts in the 4th quarter valued at $28,000. Compass Planning Associates Inc acquired a new position in Genuine Parts in the 4th quarter valued at $29,000. Synergy Asset Management LLC acquired a new position in shares of Genuine Parts during the fourth quarter worth approximately $32,000. Finally, OFI Invest Asset Management acquired a new stake in Genuine Parts during the fourth quarter worth about $34,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Up 0.4 %

NYSE GPC traded up $0.43 on Wednesday, reaching $118.32. 2,176,547 shares of the stock traded hands, compared to its average volume of 1,156,146. The company has a market cap of $16.42 billion, a price-to-earnings ratio of 18.29 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The company has a fifty day moving average price of $121.09 and a 200-day moving average price of $124.35. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45.

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Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The company had revenue of $5.77 billion during the quarter, compared to analysts' expectations of $5.71 billion. During the same period in the prior year, the business posted $2.26 earnings per share. As a group, research analysts forecast that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be given a dividend of $1.03 per share. The ex-dividend date is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.48%. This is a boost from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's payout ratio is 63.68%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GPC shares. Evercore ISI dropped their target price on shares of Genuine Parts from $128.00 to $125.00 and set an "in-line" rating for the company in a research report on Wednesday, February 19th. Northcoast Research lowered Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Truist Financial increased their target price on Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Finally, Loop Capital started coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a "buy" rating and a $155.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target 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.