Valmark Advisers Inc. Trims Stock Position in Genuine Parts (NYSE:GPC)

Valmark Advisers Inc. cut its holdings in shares of Genuine Parts (NYSE:GPC) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,609 shares of the specialty retailer’s stock after selling 270 shares during the quarter. Valmark Advisers Inc.’s holdings in Genuine Parts were worth $638,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in GPC. OFI Invest Asset Management purchased a new position in shares of Genuine Parts in the 3rd quarter worth about $25,000. Briaud Financial Planning Inc purchased a new stake in shares of Genuine Parts during the 3rd quarter valued at about $28,000. Milestone Investment Advisors LLC purchased a new stake in shares of Genuine Parts during the 3rd quarter valued at about $28,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of Genuine Parts during the 3rd quarter valued at about $40,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Genuine Parts during the 3rd quarter valued at about $42,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GPC has been the topic of several analyst reports. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Wedbush reiterated a “neutral” rating and set a $170.00 target price (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Jefferies Financial Group raised their target price on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. Evercore ISI lowered their price objective on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. Finally, Truist Financial raised 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, April 19th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $173.10.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the sale, 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 document filed with the SEC, which is available at the SEC website. Insiders own 0.37% of the company’s stock.

Genuine Parts Stock Performance

Shares of GPC traded down $1.14 during mid-day trading on Friday, hitting $159.93. The stock had a trading volume of 1,003,681 shares, compared to its average volume of 1,198,481. The company has a market cap of $22.28 billion, a PE ratio of 17.83 and a beta of 0.94. The company’s fifty day simple moving average is $152.13 and its two-hundred day simple moving average is $142.95. 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 has a fifty-two week low of $126.35 and a fifty-two week high of $174.91.

Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping the consensus estimate of $2.15 by $0.07. The company had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The business’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the firm earned $2.14 EPS. On average, equities analysts expect that Genuine Parts will post 9.89 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a $1.00 dividend. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, February 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.50%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Genuine Parts 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.