Genuine Parts (NYSE:GPC) Shares Sold by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 5.6% in the third quarter, HoldingsChannel reports. The firm owned 1,851 shares of the specialty retailer’s stock after selling 109 shares during the period. Integrated Wealth Concepts LLC’s holdings in Genuine Parts were worth $259,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of GPC. Wealth Enhancement Advisory Services LLC lifted its holdings in Genuine Parts by 6.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 51,033 shares of the specialty retailer’s stock valued at $7,059,000 after purchasing an additional 3,014 shares in the last quarter. ORG Partners LLC lifted its stake in shares of Genuine Parts by 4,375.0% during the second quarter. ORG Partners LLC now owns 537 shares of the specialty retailer’s stock valued at $73,000 after buying an additional 525 shares during the period. Triad Wealth Partners LLC acquired a new stake in Genuine Parts during the second quarter worth approximately $40,000. Blue Trust Inc. grew its stake in Genuine Parts by 28.4% in the 2nd quarter. Blue Trust Inc. now owns 2,363 shares of the specialty retailer’s stock worth $327,000 after acquiring an additional 522 shares during the period. Finally, waypoint wealth counsel raised its holdings in Genuine Parts by 4.2% in the 2nd quarter. waypoint wealth counsel now owns 2,456 shares of the specialty retailer’s stock valued at $340,000 after acquiring an additional 100 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on GPC. Wedbush lowered their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Truist Financial decreased their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. The Goldman Sachs Group cut their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. cut their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $139.57.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction dated 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.37% of the stock is owned by corporate insiders.

Genuine Parts Trading Down 0.5 %

Shares of GPC stock opened at $121.17 on Friday. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The firm’s 50 day moving average price is $125.55 and its two-hundred day moving average price is $134.60. The stock has a market cap of $16.85 billion, a price-to-earnings ratio of 15.59 and a beta of 0.94. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC) last posted its earnings results 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). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The business had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same quarter in the previous year, the firm posted $2.49 EPS. The business’s revenue was up 3.0% compared to the same quarter last year. On average, analysts anticipate that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Friday, December 6th. Genuine Parts’s dividend payout ratio is presently 51.48%.

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.