Legacy Capital Wealth Partners LLC Buys 3,350 Shares of Genuine Parts (NYSE:GPC)

Legacy Capital Wealth Partners LLC increased its position in shares of Genuine Parts (NYSE:GPC - Free Report) by 113.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,297 shares of the specialty retailer's stock after purchasing an additional 3,350 shares during the period. Legacy Capital Wealth Partners LLC's holdings in Genuine Parts were worth $735,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in Genuine Parts during the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP purchased a new position in Genuine Parts during the third quarter valued at $31,000. Synergy Asset Management LLC bought a new stake in Genuine Parts in the 4th quarter valued at $32,000. Concord Wealth Partners lifted its stake in Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer's stock worth $38,000 after purchasing an additional 119 shares in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Genuine Parts during the 3rd quarter valued at about $44,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Trading Up 0.3 %

Shares of GPC traded up $0.38 during trading hours on Wednesday, reaching $122.03. 1,754,682 shares of the company traded hands, compared to its average volume of 1,617,781. The firm has a market cap of $16.97 billion, a price-to-earnings ratio of 15.71 and a beta of 0.94. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The stock's fifty day moving average price is $118.25 and its 200 day moving average price is $127.30. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping analysts' consensus estimates 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 4.67% and a return on equity of 27.23%. During the same period in the prior year, the firm earned $2.26 EPS. Sell-side analysts forecast that Genuine Parts will post 8.08 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.38%. This is a boost from Genuine Parts's previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. Genuine Parts's dividend payout ratio is currently 51.48%.

Wall Street Analyst Weigh In

Several research firms have weighed in on GPC. Wedbush cut their price target on Genuine Parts from $145.00 to $120.00 and set a "neutral" rating for the company in a report on Wednesday, October 23rd. The Goldman Sachs Group decreased their price objective on Genuine Parts from $162.00 to $138.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 23rd. Redburn Atlantic upgraded Genuine Parts to a "hold" rating in a report on Monday, November 11th. Evercore ISI decreased their price target on Genuine Parts from $128.00 to $125.00 and set an "in-line" rating on the stock in a report on Wednesday. Finally, UBS Group lowered their price target on Genuine Parts from $145.00 to $125.00 and set a "neutral" rating for the company in a research report on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $137.63.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the company'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 value of $194,214.24. Following the completion of the sale, the director now owns 11,357 shares of the company's stock, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.37% of the company's stock.

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.