Genuine Parts (NYSE:GPC) Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. lessened its holdings in Genuine Parts (NYSE:GPC) by 11.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 618 shares of the specialty retailer’s stock after selling 76 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Genuine Parts were worth $96,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GPC. LPL Financial LLC boosted its holdings in shares of Genuine Parts by 15.1% during the third quarter. LPL Financial LLC now owns 141,483 shares of the specialty retailer’s stock valued at $20,427,000 after acquiring an additional 18,522 shares during the period. Federated Hermes Inc. raised its stake in shares of Genuine Parts by 16.5% during the third quarter. Federated Hermes Inc. now owns 76,635 shares of the specialty retailer’s stock valued at $11,065,000 after purchasing an additional 10,880 shares in the last quarter. Northern Trust Corp raised its stake in shares of Genuine Parts by 4.3% during the third quarter. Northern Trust Corp now owns 1,491,923 shares of the specialty retailer’s stock valued at $215,404,000 after purchasing an additional 61,764 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Genuine Parts during the third quarter valued at about $662,000. Finally, Natixis Advisors L.P. raised its stake in shares of Genuine Parts by 0.3% during the third quarter. Natixis Advisors L.P. now owns 97,784 shares of the specialty retailer’s stock valued at $14,118,000 after purchasing an additional 310 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total transaction of $453,870.00. Following the transaction, the director now owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.37% of the company’s stock.

Genuine Parts Trading Up 0.0 %

Shares of GPC opened at $141.43 on Monday. The business’s 50-day moving average price is $149.77 and its 200 day moving average price is $146.46. The stock has a market capitalization of $19.70 billion, a P/E ratio of 15.77 and a beta of 0.92. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $170.57. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69.

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

Genuine Parts Announces Dividend

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

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.