Forza Wealth Management LLC Purchases 451 Shares of Genuine Parts (NYSE:GPC)

Forza Wealth Management LLC lifted its position in Genuine Parts (NYSE:GPC) by 10.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,827 shares of the specialty retailer’s stock after buying an additional 451 shares during the period. Forza Wealth Management LLC’s holdings in Genuine Parts were worth $564,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in Genuine Parts during the 3rd quarter worth about $26,000. Capital Performance Advisors LLP bought a new position in Genuine Parts during the 3rd quarter worth about $31,000. Concord Wealth Partners increased its holdings in Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 119 shares in the last quarter. Catalyst Capital Advisors LLC bought a new position in Genuine Parts during the 3rd quarter worth about $44,000. Finally, Armstrong Advisory Group Inc. increased its holdings in Genuine Parts by 63.8% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock worth $51,000 after purchasing an additional 141 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GPC. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Evercore ISI increased their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Truist Financial reduced their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. UBS Group reduced their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Finally, Wedbush reduced their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Stock Performance

GPC stock traded up $1.16 during mid-day trading on Monday, hitting $117.07. 746,116 shares of the company were exchanged, compared to its average volume of 1,011,043. The business has a 50 day simple moving average of $120.94 and a 200-day simple moving average of $131.00. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $16.28 billion, a PE ratio of 15.07 and a beta of 0.95. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). The company had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $2.49 earnings per share. On average, equities analysts forecast that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.42%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the transaction, the director now directly owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.37% of the company’s stock.

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.