Genuine Parts (NYSE:GPC) Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC decreased its stake in shares of Genuine Parts (NYSE:GPC) by 7.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,747 shares of the specialty retailer’s stock after selling 401 shares during the period. International Assets Investment Management LLC’s holdings in Genuine Parts were worth $732,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Assetmark Inc. raised its holdings in Genuine Parts by 109.1% in the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 96 shares during the period. Quarry LP boosted its position in Genuine Parts by 138.7% during the 4th quarter. Quarry LP now owns 284 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 165 shares during the period. Bruce G. Allen Investments LLC increased its holdings in Genuine Parts by 149.0% in the 1st quarter. Bruce G. Allen Investments LLC now owns 254 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 152 shares in the last quarter. Orion Capital Management LLC acquired a new position in shares of Genuine Parts during the third quarter worth about $42,000. Finally, Costello Asset Management INC boosted its position in shares of Genuine Parts by 200.0% in the fourth quarter. Costello Asset Management INC now owns 300 shares of the specialty retailer’s stock worth $42,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

GPC has been the subject of several recent research reports. Wedbush reaffirmed a “neutral” rating and issued a $170.00 price objective (up previously from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Truist Financial lifted their price target on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Jefferies Financial Group upped their price objective on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research report on Friday, April 19th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, May 24th. Finally, Evercore ISI lifted their price objective on Genuine Parts from $160.00 to $165.00 and gave the stock an “in-line” rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $172.44.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $141.43 on Monday. The company has a market cap of $19.70 billion, a PE ratio of 15.77 and a beta of 0.92. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $170.57. The firm has a 50-day simple moving average of $149.77 and a 200 day simple moving average of $146.46. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The business had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter last year, the business posted $2.14 EPS. The business’s revenue was up .3% on a year-over-year basis. On average, sell-side analysts anticipate that Genuine Parts will post 9.92 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Friday, June 7th. Genuine Parts’s dividend payout ratio is currently 44.59%.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the sale, the director now directly owns 13,006 shares in the company, valued at $1,967,677.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.37% of the stock is currently owned by insiders.

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.