Genuine Parts (NYSE:GPC) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC lowered its holdings in Genuine Parts (NYSE:GPC) by 10.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,149 shares of the specialty retailer’s stock after selling 2,699 shares during the period. Sanctuary Advisors LLC’s holdings in Genuine Parts were worth $3,094,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Pine Valley Investments Ltd Liability Co increased its position in shares of Genuine Parts by 16.4% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 27,075 shares of the specialty retailer’s stock worth $3,792,000 after acquiring an additional 3,813 shares in the last quarter. Anchor Investment Management LLC grew its holdings in Genuine Parts by 59.4% during the 3rd quarter. Anchor Investment Management LLC now owns 1,503 shares of the specialty retailer’s stock valued at $210,000 after purchasing an additional 560 shares in the last quarter. Soltis Investment Advisors LLC grew its holdings in Genuine Parts by 2.3% during the 3rd quarter. Soltis Investment Advisors LLC now owns 36,934 shares of the specialty retailer’s stock valued at $5,159,000 after purchasing an additional 831 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in Genuine Parts by 29.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 2,310 shares of the specialty retailer’s stock valued at $323,000 after purchasing an additional 528 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in Genuine Parts during the 3rd quarter valued at $1,182,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

GPC has been the subject of a number of recent analyst reports. Truist Financial lowered their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. UBS Group lowered their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. The Goldman Sachs Group lowered their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and a consensus price target of $139.57.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the transaction, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.37% of the company’s stock.

Genuine Parts Trading Down 0.1 %

NYSE GPC opened at $118.47 on Wednesday. The company’s fifty day moving average price is $124.91 and its two-hundred day moving average price is $134.18. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The company has a market capitalization of $16.47 billion, a price-to-earnings ratio of 15.25 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter in the previous year, the business posted $2.49 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, research analysts predict that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be given a $1.00 dividend. The ex-dividend date is Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.38%. Genuine Parts’s payout ratio is currently 51.48%.

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.