Brooklyn Investment Group Sells 207 Shares of Genuine Parts (NYSE:GPC)

Brooklyn Investment Group decreased its position in Genuine Parts (NYSE:GPC) by 29.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 503 shares of the specialty retailer’s stock after selling 207 shares during the period. Brooklyn Investment Group’s holdings in Genuine Parts were worth $59,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new position in Genuine Parts in the 2nd quarter valued at about $10,900,000. Edgestream Partners L.P. increased its stake in shares of Genuine Parts by 266.5% in the second quarter. Edgestream Partners L.P. now owns 6,007 shares of the specialty retailer’s stock valued at $831,000 after buying an additional 4,368 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Genuine Parts by 4.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 9,498 shares of the specialty retailer’s stock valued at $1,311,000 after acquiring an additional 439 shares during the period. Blair William & Co. IL raised its position in Genuine Parts by 8.0% during the 2nd quarter. Blair William & Co. IL now owns 10,624 shares of the specialty retailer’s stock worth $1,470,000 after purchasing an additional 785 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Genuine Parts by 8.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 8,551 shares of the specialty retailer’s stock worth $1,183,000 after acquiring an additional 656 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GPC has been the topic of a number of research analyst reports. The Goldman Sachs Group cut their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Truist Financial reduced their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Loop Capital assumed coverage on Genuine Parts in a report on Thursday. They issued a “buy” rating and a $155.00 price target on the stock. UBS Group lowered their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. 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 company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $141.50.

Genuine Parts Price Performance

GPC opened at $118.43 on Monday. The company has a market capitalization of $16.47 billion, a price-to-earnings ratio of 15.24 and a beta of 0.95. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The firm has a 50-day moving average price of $120.69 and a 200-day moving average price of $130.37. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $5.94 billion. During the same period in the previous year, the firm earned $2.49 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. Equities analysts expect that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date was Friday, December 6th. Genuine Parts’s payout ratio is presently 51.48%.

Insider Activity

In related news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 11,357 shares of the company’s stock, 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 is accessible through the SEC website. Company insiders own 0.37% of the company’s stock.

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.