Court Place Advisors LLC Sells 275 Shares of Genuine Parts (NYSE:GPC)

Court Place Advisors LLC decreased its position in shares of Genuine Parts (NYSE:GPC) by 8.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,850 shares of the specialty retailer’s stock after selling 275 shares during the period. Court Place Advisors LLC’s holdings in Genuine Parts were worth $395,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Genuine Parts by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,056 shares of the specialty retailer’s stock valued at $2,401,000 after purchasing an additional 1,180 shares in the last quarter. Cibc World Market Inc. raised its stake in Genuine Parts by 14.8% in the first quarter. Cibc World Market Inc. now owns 2,740 shares of the specialty retailer’s stock valued at $345,000 after purchasing an additional 354 shares in the last quarter. Sei Investments Co. raised its stake in Genuine Parts by 9.4% in the first quarter. Sei Investments Co. now owns 50,928 shares of the specialty retailer’s stock valued at $6,448,000 after purchasing an additional 4,372 shares in the last quarter. Aviva PLC raised its stake in Genuine Parts by 63.1% in the first quarter. Aviva PLC now owns 78,951 shares of the specialty retailer’s stock valued at $9,949,000 after purchasing an additional 30,545 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its stake in Genuine Parts by 195.1% in the first quarter. Allianz Asset Management GmbH now owns 114,328 shares of the specialty retailer’s stock valued at $14,408,000 after purchasing an additional 75,591 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

GPC has been the subject of a number of analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $167.00 price target on shares of Genuine Parts in a research note on Friday, April 12th. Evercore ISI dropped their price target on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research note on Tuesday. Wedbush reiterated a “neutral” rating and issued a $140.00 target price on shares of Genuine Parts in a research report on Friday, February 16th. Finally, StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $168.33.

Genuine Parts Trading Down 0.3 %

Shares of NYSE:GPC traded down $0.48 during midday trading on Wednesday, hitting $144.07. 1,754,113 shares of the stock were exchanged, compared to its average volume of 987,760. The stock has a market capitalization of $20.09 billion, a price-to-earnings ratio of 15.44 and a beta of 0.94. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.63 and a current ratio of 1.23. The business’s 50-day moving average price is $149.56 and its 200 day moving average price is $142.09. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $174.91.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, February 15th. The specialty retailer reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.06. The company had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.64 billion. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.05 earnings per share. Analysts predict that Genuine Parts will post 9.76 earnings per share for the current year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a $1.00 dividend. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date was Thursday, February 29th. Genuine Parts’s payout ratio is currently 42.87%.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,250 shares of the company’s 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 completion of the sale, the director now owns 14,397 shares in the company, valued at $2,230,383.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.37% of the stock is owned by insiders.

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.