Oppenheimer Asset Management Inc. Sells 10,348 Shares of Genuine Parts (NYSE:GPC)

Oppenheimer Asset Management Inc. lowered its position in Genuine Parts (NYSE:GPC - Free Report) by 8.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 117,465 shares of the specialty retailer's stock after selling 10,348 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.08% of Genuine Parts worth $13,715,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GPC. Ashton Thomas Securities LLC purchased a new stake in shares of Genuine Parts during the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP bought a new stake in Genuine Parts during the 3rd quarter valued at $31,000. Kestra Investment Management LLC purchased a new stake in shares of Genuine Parts during the fourth quarter worth $28,000. Compass Planning Associates Inc bought a new position in shares of Genuine Parts in the fourth quarter worth $29,000. Finally, Synergy Asset Management LLC purchased a new position in shares of Genuine Parts in the fourth quarter valued at $32,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Genuine Parts

In related 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 transaction of $194,214.24. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.37% of the company's stock.

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Genuine Parts Price Performance

Shares of NYSE GPC traded down $0.88 during trading hours on Monday, reaching $124.00. 1,806,334 shares of the stock traded hands, compared to its average volume of 1,609,234. The company has a market capitalization of $17.21 billion, a P/E ratio of 19.17 and a beta of 0.94. The company's 50-day simple moving average is $118.94 and its two-hundred day simple moving average is $126.50. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45.

Genuine Parts (NYSE:GPC - Get Free Report) last announced 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 firm had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same period in the previous year, the business posted $2.26 EPS. Equities research analysts forecast that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. This is a boost from Genuine Parts's previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Friday, March 7th. Genuine Parts's dividend payout ratio (DPR) is 63.68%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Redburn Atlantic upgraded Genuine Parts to a "hold" rating in a research report on Monday, November 11th. Northcoast Research lowered shares of Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Truist Financial upped their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Loop Capital began coverage on Genuine Parts in a research note on Thursday, January 16th. They set a "buy" rating and a $155.00 price objective for the company. Finally, Evercore ISI decreased their target price on Genuine Parts from $128.00 to $125.00 and set an "in-line" rating on the stock in a research note on Wednesday, February 19th. Eight 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 stock. Based on data from MarketBeat, Genuine Parts has a consensus rating of "Hold" and an average price target of $137.63.

Genuine Parts 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.