Marks Group Wealth Management Inc Trims Holdings in Genuine Parts (NYSE:GPC)

Marks Group Wealth Management Inc decreased its stake in shares of Genuine Parts (NYSE:GPC) by 10.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,630 shares of the specialty retailer’s stock after selling 1,089 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Genuine Parts were worth $1,334,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in Genuine Parts during the third quarter worth $25,000. Briaud Financial Planning Inc acquired a new stake in Genuine Parts during the third quarter worth $28,000. Milestone Investment Advisors LLC acquired a new stake in Genuine Parts during the third quarter worth $28,000. Authentikos Wealth Advisory LLC acquired a new stake in Genuine Parts during the third quarter worth $40,000. Finally, Orion Capital Management LLC acquired a new stake in shares of Genuine Parts in the third quarter valued at $42,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

GPC stock traded up $0.35 on Tuesday, reaching $163.44. The company had a trading volume of 457,958 shares, compared to its average volume of 1,054,564. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $174.91. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. The company’s fifty day moving average is $150.66 and its 200 day moving average is $142.49. The company has a market cap of $22.77 billion, a P/E ratio of 18.21 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The firm had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the prior year, the company earned $2.14 EPS. Genuine Parts’s revenue was up .3% on a year-over-year basis. On average, research analysts forecast that Genuine Parts will post 9.86 earnings per share for the current year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Thursday, February 29th. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s dividend payout ratio is currently 44.59%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GPC shares. Truist Financial lifted their price objective on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday. Wedbush reissued a “neutral” rating and issued a $170.00 target price (up from $140.00) on shares of Genuine Parts in a report on Friday. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Jefferies Financial Group boosted their price target on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research report on Friday. Finally, Evercore ISI dropped their price target on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 16th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $173.10.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the transaction, the director now owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.37% of the company’s stock.

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.