Ellsworth Advisors LLC Has $5.10 Million Stock Holdings in Genuine Parts (NYSE:GPC)

Ellsworth Advisors LLC raised its stake in Genuine Parts (NYSE:GPC - Free Report) by 36.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 43,680 shares of the specialty retailer's stock after buying an additional 11,588 shares during the quarter. Genuine Parts accounts for about 1.3% of Ellsworth Advisors LLC's holdings, making the stock its 26th biggest position. Ellsworth Advisors LLC's holdings in Genuine Parts were worth $5,100,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GPC. Ashton Thomas Securities LLC acquired a new stake in shares of Genuine Parts in the third quarter worth about $26,000. Capital Performance Advisors LLP acquired a new position in Genuine Parts during the 3rd quarter worth $31,000. Concord Wealth Partners boosted its holdings in Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer's stock valued at $38,000 after acquiring an additional 119 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in Genuine Parts in the 3rd quarter valued at approximately $44,000. Finally, First Financial Corp IN bought a new position in Genuine Parts in the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 78.83% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on GPC shares. Northcoast Research cut shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday. Truist Financial decreased their price target on shares of Genuine Parts from $164.00 to $129.00 and set a "buy" rating on the stock in a research note on Wednesday, October 23rd. The Goldman Sachs Group decreased their target price on shares of Genuine Parts from $162.00 to $138.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 23rd. Evercore ISI increased their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an "in-line" rating in a research report on Tuesday, October 22nd. Finally, UBS Group decreased their price objective on Genuine Parts from $145.00 to $125.00 and set a "neutral" rating on the stock in a report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $141.50.

Genuine Parts Price Performance

Shares of Genuine Parts stock traded down $0.99 during trading on Monday, reaching $118.43. The company's stock had a trading volume of 2,448,055 shares, compared to its average volume of 983,311. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The stock has a 50-day moving average price of $120.69 and a two-hundred day moving average price of $130.37. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $16.47 billion, a P/E ratio of 15.24 and a beta of 0.95.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its 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). The company had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. Genuine Parts's revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.49 earnings per share. As a group, sell-side analysts anticipate that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.38%. Genuine Parts's dividend payout ratio is currently 51.48%.

Insider Activity

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the firm's stock in a transaction that occurred on 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 transaction, the director now directly owns 11,357 shares in the company, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.37% of the stock is owned by corporate insiders.

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.