Genuine Parts (NYSE:GPC) Shares Sold by Inspire Investing LLC

Inspire Investing LLC cut its holdings in Genuine Parts (NYSE:GPC) by 13.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,716 shares of the specialty retailer’s stock after selling 3,481 shares during the quarter. Inspire Investing LLC’s holdings in Genuine Parts were worth $3,004,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GPC. Manchester Capital Management LLC raised its position in Genuine Parts by 36.1% in the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock valued at $39,000 after purchasing an additional 66 shares in the last quarter. North Star Investment Management Corp. raised its holdings in Genuine Parts by 8.5% during the first quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock worth $138,000 after purchasing an additional 70 shares during the last quarter. CHICAGO TRUST Co NA increased its position in Genuine Parts by 3.6% during the first quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock worth $316,000 after buying an additional 71 shares in the last quarter. First Citizens Bank & Trust Co. increased its position in Genuine Parts by 4.9% during the second quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock worth $224,000 after buying an additional 75 shares in the last quarter. Finally, HBK Sorce Advisory LLC grew its position in shares of Genuine Parts by 1.8% in the first quarter. HBK Sorce Advisory LLC now owns 4,437 shares of the specialty retailer’s stock valued at $689,000 after purchasing an additional 80 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Price Performance

GPC opened at $138.08 on Thursday. The company has a fifty day moving average price of $139.59 and a two-hundred day moving average price of $145.51. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $164.45. The firm has a market capitalization of $19.23 billion, a PE ratio of 15.39 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). The company had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. Genuine Parts’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $2.44 earnings per share. As a group, analysts anticipate that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.90%. Genuine Parts’s payout ratio is presently 44.59%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. UBS Group reduced their price objective on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Wedbush lowered their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Evercore ISI cut their target price on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research report on Wednesday, July 24th. Truist Financial reiterated a “buy” rating and set a $164.00 price objective on shares of Genuine Parts in a research report on Wednesday, August 28th. Finally, StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $161.14.

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.