Wellington Management Group LLP Lowers Stake in Genuine Parts (NYSE:GPC)

Wellington Management Group LLP trimmed its position in Genuine Parts (NYSE:GPC - Free Report) by 38.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,801 shares of the specialty retailer's stock after selling 14,123 shares during the quarter. Wellington Management Group LLP's holdings in Genuine Parts were worth $3,185,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Citizens Bank & Trust Co. increased its stake in shares of Genuine Parts by 4.9% in the second quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer's stock worth $224,000 after purchasing an additional 75 shares in the last quarter. Dover Advisors LLC increased its stake in Genuine Parts by 5.1% in the 2nd quarter. Dover Advisors LLC now owns 1,756 shares of the specialty retailer's stock worth $243,000 after buying an additional 85 shares in the last quarter. Metis Global Partners LLC raised its holdings in Genuine Parts by 1.9% during the third quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer's stock valued at $625,000 after acquiring an additional 85 shares during the period. Blackhawk Capital Partners LLC. lifted its position in shares of Genuine Parts by 1.3% in the second quarter. Blackhawk Capital Partners LLC. now owns 6,793 shares of the specialty retailer's stock valued at $940,000 after acquiring an additional 86 shares in the last quarter. Finally, Guardian Wealth Advisors LLC boosted its stake in shares of Genuine Parts by 2.7% in the third quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer's stock worth $484,000 after acquiring an additional 91 shares during the period. Institutional investors own 78.83% of the company's stock.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the business'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 completion of the transaction, the director now owns 11,357 shares in the company, valued at $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.37% of the company's stock.

Genuine Parts Price Performance

Shares of NYSE:GPC traded down $2.90 on Wednesday, reaching $115.59. The company's stock had a trading volume of 1,280,888 shares, compared to its average volume of 1,066,385. The company has a 50-day simple moving average of $124.55 and a 200 day simple moving average of $134.05. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The company has a market cap of $16.07 billion, a P/E ratio of 14.88 and a beta of 0.94.

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

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Friday, December 6th. Genuine Parts's dividend payout ratio (DPR) is 51.48%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wedbush decreased their target price on Genuine Parts from $145.00 to $120.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 23rd. Evercore ISI boosted their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an "in-line" rating in a report on Tuesday, October 22nd. The Goldman Sachs Group dropped their target price on shares of Genuine Parts from $162.00 to $138.00 and set a "neutral" rating for the company in a research report on Wednesday, October 23rd. StockNews.com downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a report on Wednesday, October 16th. Finally, Redburn Atlantic raised shares of Genuine Parts to a "hold" rating in a report on Monday, November 11th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Genuine Parts currently has a consensus rating of "Hold" and a consensus price target of $139.57.

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.