Wright Investors Service Inc. Sells 1,306 Shares of Genuine Parts (NYSE:GPC)

Wright Investors Service Inc. reduced its holdings in Genuine Parts (NYSE:GPC) by 14.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 7,603 shares of the specialty retailer’s stock after selling 1,306 shares during the quarter. Wright Investors Service Inc.’s holdings in Genuine Parts were worth $1,053,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Householder Group Estate & Retirement Specialist LLC acquired a new position in Genuine Parts in the 3rd quarter valued at approximately $25,000. OFI Invest Asset Management acquired a new position in Genuine Parts in the 3rd quarter valued at approximately $25,000. Sunbelt Securities Inc. increased its position in Genuine Parts by 122.2% in the 2nd quarter. Sunbelt Securities Inc. now owns 160 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 88 shares during the period. Briaud Financial Planning Inc acquired a new position in Genuine Parts in the 3rd quarter valued at approximately $28,000. Finally, Milestone Investment Advisors LLC acquired a new position in Genuine Parts in the 3rd quarter valued at approximately $28,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Up 12.2 %

NYSE:GPC traded up $17.57 during trading hours on Thursday, reaching $161.64. The company had a trading volume of 1,583,526 shares, compared to its average volume of 993,748. The company has a quick ratio of 0.63, a current ratio of 1.23 and a debt-to-equity ratio of 0.80. The firm has a market cap of $22.54 billion, a price-to-earnings ratio of 16.86 and a beta of 0.94. The business’s 50-day simple moving average is $149.56 and its two-hundred day simple moving average is $142.09. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $174.91.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.06. Genuine Parts had a net margin of 5.70% and a return on equity of 31.64%. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same period last year, the company posted $2.14 earnings per share. The business’s quarterly revenue was up .3% on a year-over-year basis. On average, equities analysts expect that Genuine Parts will post 9.76 earnings per share for the current year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.47%. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, February 29th. Genuine Parts’s dividend payout ratio (DPR) is 42.87%.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the transaction, the director now directly owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on GPC shares. Evercore ISI decreased their price target on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research report on Tuesday. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Wedbush reiterated a “neutral” rating and set a $140.00 price objective on shares of Genuine Parts in a research report on Friday, February 16th. Finally, Truist Financial reiterated a “buy” rating and set a $167.00 price objective on shares of Genuine Parts in a research report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $168.33.

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.