Genuine Parts (NYSE:GPC) Shares Sold by Sawyer & Company Inc

Sawyer & Company Inc lessened its stake in shares of Genuine Parts (NYSE:GPC) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,130 shares of the specialty retailer’s stock after selling 80 shares during the period. Sawyer & Company Inc’s holdings in Genuine Parts were worth $1,265,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Householder Group Estate & Retirement Specialist LLC purchased a new stake in Genuine Parts during the 3rd quarter valued at about $25,000. OFI Invest Asset Management purchased a new stake in shares of Genuine Parts in the third quarter valued at approximately $25,000. Sunbelt Securities Inc. increased its holdings in shares of Genuine Parts by 122.2% in the second quarter. Sunbelt Securities Inc. now owns 160 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 88 shares during the last quarter. Briaud Financial Planning Inc purchased a new position in Genuine Parts during the third quarter worth approximately $28,000. Finally, Milestone Investment Advisors LLC purchased a new stake in Genuine Parts in the 3rd quarter valued at $28,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the completion of the transaction, the director now directly owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.37% of the stock is owned by corporate insiders.

Genuine Parts Stock Performance

GPC stock traded down $1.08 on Tuesday, hitting $152.53. The company’s stock had a trading volume of 945,950 shares, compared to its average volume of 1,015,282. The stock has a market cap of $21.27 billion, a price-to-earnings ratio of 16.35 and a beta of 0.94. The firm has a 50 day moving average of $146.69 and a two-hundred day moving average of $141.68. The company has a current ratio of 1.23, a quick ratio of 0.63 and a debt-to-equity ratio of 0.80. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $174.91.

Genuine Parts (NYSE:GPC) last announced its earnings results on Thursday, February 15th. The specialty retailer reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.06. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The company had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same period last year, the business posted $2.05 EPS. The company’s revenue was up 1.1% on a year-over-year basis. Equities analysts predict that Genuine Parts will post 9.77 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 1st will be issued a dividend of $1.00 per share. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. This represents a $4.00 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Thursday, February 29th. Genuine Parts’s dividend payout ratio is currently 42.87%.

Wall Street Analysts Forecast Growth

GPC has been the topic of several analyst reports. Truist Financial lifted their price target on Genuine Parts from $155.00 to $157.00 and gave the stock a “buy” rating in a report on Friday, February 16th. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Monday, March 18th. Wedbush reaffirmed a “neutral” rating and set a $140.00 target price on shares of Genuine Parts in a research note on Friday, February 16th. Finally, Evercore ISI raised their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $167.78.

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.