Genuine Parts (NYSE:GPC) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC cut its stake in Genuine Parts (NYSE:GPC - Free Report) by 99.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,527 shares of the specialty retailer's stock after selling 579,815 shares during the period. International Assets Investment Management LLC's holdings in Genuine Parts were worth $525,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC lifted its holdings in shares of Genuine Parts by 40.5% in the 4th quarter. CWA Asset Management Group LLC now owns 2,206 shares of the specialty retailer's stock worth $258,000 after buying an additional 636 shares during the period. Pensionfund Sabic lifted its stake in Genuine Parts by 68.5% in the fourth quarter. Pensionfund Sabic now owns 12,300 shares of the specialty retailer's stock worth $1,436,000 after acquiring an additional 5,000 shares during the period. Nordea Investment Management AB grew its holdings in Genuine Parts by 6.5% during the 4th quarter. Nordea Investment Management AB now owns 10,375 shares of the specialty retailer's stock worth $1,214,000 after acquiring an additional 629 shares in the last quarter. Central Pacific Bank Trust Division increased its position in Genuine Parts by 5.1% during the 4th quarter. Central Pacific Bank Trust Division now owns 13,234 shares of the specialty retailer's stock valued at $1,545,000 after purchasing an additional 637 shares during the period. Finally, Cacti Asset Management LLC raised its holdings in shares of Genuine Parts by 12.1% in the 4th quarter. Cacti Asset Management LLC now owns 83,234 shares of the specialty retailer's stock valued at $9,640,000 after purchasing an additional 9,000 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Evercore ISI increased 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. Truist Financial cut their price target on Genuine Parts from $164.00 to $129.00 and set a "buy" rating on the stock in a report on Wednesday, October 23rd. Redburn Atlantic upgraded Genuine Parts to a "hold" rating in a research note on Monday, November 11th. Wedbush dropped their price objective on Genuine Parts from $145.00 to $120.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 23rd. Finally, UBS Group decreased their price target on shares of Genuine Parts from $145.00 to $125.00 and set a "neutral" rating for the company in a research report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Genuine Parts has an average rating of "Hold" and a consensus target price of $139.57.

Insider Buying and Selling

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 shares were 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 directly owns 11,357 shares of the company's stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.37% of the stock is currently owned by company insiders.

Genuine Parts Stock Down 0.5 %

Genuine Parts stock traded down $0.54 during midday trading on Friday, reaching $115.99. The company's stock had a trading volume of 1,245,007 shares, compared to its average volume of 1,061,733. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The stock has a market capitalization of $16.13 billion, a P/E ratio of 14.93 and a beta of 0.95. 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 stock's 50-day simple moving average is $120.94 and its 200-day simple moving average is $131.05.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). The company had revenue of $6 billion during the quarter, compared to analysts' expectations of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The business's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.49 earnings per share. On average, sell-side analysts expect that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts's payout ratio is 51.48%.

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.