Genuine Parts (NYSE:GPC) Shares Acquired by Avantax Planning Partners Inc.

Avantax Planning Partners Inc. grew its position in Genuine Parts (NYSE:GPC) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,190 shares of the specialty retailer’s stock after acquiring an additional 450 shares during the period. Avantax Planning Partners Inc.’s holdings in Genuine Parts were worth $1,890,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GPC. Metis Global Partners LLC lifted its holdings in Genuine Parts by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock worth $625,000 after buying an additional 85 shares in the last quarter. Guardian Wealth Advisors LLC lifted its holdings in Genuine Parts by 2.7% during the 3rd 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 in the last quarter. Marco Investment Management LLC lifted its holdings in Genuine Parts by 1.2% during the 3rd quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock worth $1,104,000 after buying an additional 91 shares in the last quarter. Hartford Financial Management Inc. lifted its holdings in Genuine Parts by 0.5% during the 4th quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer’s stock worth $2,185,000 after buying an additional 99 shares in the last quarter. Finally, Citizens Financial Group Inc. RI lifted its holdings in 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 worth $533,000 after buying an additional 103 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were 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 of the company’s stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.42% of the company’s stock.

Genuine Parts Trading Down 4.1 %

NYSE GPC opened at $123.74 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The firm’s fifty day moving average price is $120.15 and its 200 day moving average price is $125.76. The company has a market capitalization of $17.17 billion, a price-to-earnings ratio of 19.13 and a beta of 0.93. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. The firm had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same period last year, the firm posted $2.26 EPS. On average, sell-side analysts expect that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.33%. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. Genuine Parts’s dividend payout ratio (DPR) is 63.68%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GPC. Evercore ISI reduced their target price on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Loop Capital began coverage on shares of Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 target price on the stock. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Finally, Truist Financial increased their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Eight 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. According to MarketBeat.com, Genuine Parts presently has a consensus rating of “Hold” and an average price target of $137.63.

About Genuine Parts

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.