Blue Chip Partners LLC Lowers Holdings in Genuine Parts (NYSE:GPC)

Blue Chip Partners LLC decreased its position in shares of Genuine Parts (NYSE:GPC - Free Report) by 27.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,602 shares of the specialty retailer's stock after selling 18,554 shares during the quarter. Blue Chip Partners LLC's holdings in Genuine Parts were worth $5,675,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in Genuine Parts in the 3rd quarter valued at $26,000. Capital Performance Advisors LLP bought a new stake in shares of Genuine Parts in the 3rd quarter worth about $31,000. Synergy Asset Management LLC bought a new position in Genuine Parts during the 4th quarter valued at about $32,000. Concord Wealth Partners grew 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 valued at $38,000 after purchasing an additional 119 shares during the last quarter. Finally, Catalyst Capital Advisors LLC bought a new position in Genuine Parts during the 3rd quarter valued at about $44,000. Hedge funds and other institutional investors 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 shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the sale, the director now directly owns 11,357 shares in the company, valued at approximately $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 accessible through this link. 0.37% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GPC shares. Evercore ISI lowered their price objective 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. Wedbush reduced their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a "neutral" rating for the company in a research note on Wednesday, October 23rd. Redburn Atlantic upgraded shares of Genuine Parts to a "hold" rating in a research note on Monday, November 11th. UBS Group cut their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 23rd. Finally, Northcoast Research lowered shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Eight 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $137.63.

Genuine Parts Price Performance

GPC traded up $1.33 during midday trading on Thursday, hitting $123.40. 1,709,121 shares of the company traded hands, compared to its average volume of 1,621,995. 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 company has a market capitalization of $17.16 billion, a price-to-earnings ratio of 19.07 and a beta of 0.94. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The business has a 50 day simple moving average of $118.28 and a two-hundred day simple moving average of $127.27.

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 (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.07. The business had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 24.99%. During the same period last year, the firm posted $2.26 earnings per share. On average, equities analysts forecast that Genuine Parts will post 7.98 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be paid a $1.03 dividend. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Friday, March 7th. Genuine Parts's dividend payout ratio (DPR) is currently 61.82%.

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.