Genuine Parts (NYSE:GPC) Shares Sold by Physicians Financial Services Inc.

Physicians Financial Services Inc. lowered its position in shares of Genuine Parts (NYSE:GPC) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,856 shares of the specialty retailer’s stock after selling 120 shares during the quarter. Physicians Financial Services Inc.’s holdings in Genuine Parts were worth $567,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Metis Global Partners LLC grew its position in Genuine Parts by 1.9% in the third quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock worth $625,000 after acquiring an additional 85 shares during the period. Guardian Wealth Advisors LLC grew its holdings in shares of Genuine Parts by 2.7% during the third quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock worth $484,000 after buying an additional 91 shares during the last quarter. Marco Investment Management LLC boosted its holdings in Genuine Parts by 1.2% in the 3rd quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock valued at $1,104,000 after purchasing an additional 91 shares in the last quarter. Hartford Financial Management Inc. boosted its holdings in Genuine Parts by 0.5% in the 4th quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer’s stock valued at $2,185,000 after purchasing an additional 99 shares in the last quarter. Finally, Citizens Financial Group Inc. RI lifted its position in shares of Genuine Parts by 2.8% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer’s stock valued at $533,000 after acquiring an additional 103 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Truist Financial boosted their price target on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Evercore ISI cut their price target on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday. Finally, Loop Capital assumed coverage on Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. Eight investment 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 currently has an average rating of “Hold” and an average price target of $137.63.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Genuine Parts Trading Up 1.1 %

GPC opened at $123.40 on Friday. The firm has a market capitalization of $17.16 billion, a P/E ratio of 19.07 and a beta of 0.94. The firm’s 50 day moving average is $118.28 and its 200-day moving average is $127.27. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. 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 (NYSE:GPC) last issued its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.07. The business had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same quarter in the previous year, the firm earned $2.26 earnings per share. Analysts expect that Genuine Parts will post 7.91 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be issued a dividend of $1.03 per share. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. This represents a $4.12 annualized dividend and a dividend yield of 3.34%. Genuine Parts’s payout ratio is 61.82%.

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.