Genuine Parts (NYSE:GPC) is LongView Wealth Management’s 6th Largest Position

LongView Wealth Management boosted its position in Genuine Parts (NYSE:GPC) by 7.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 84,328 shares of the specialty retailer’s stock after purchasing an additional 5,745 shares during the period. Genuine Parts comprises about 3.0% of LongView Wealth Management’s portfolio, making the stock its 6th biggest holding. LongView Wealth Management’s holdings in Genuine Parts were worth $9,846,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of Genuine Parts by 21.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock valued at $189,296,000 after buying an additional 239,858 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Genuine Parts during the second quarter worth $10,900,000. Edgestream Partners L.P. boosted its holdings in shares of Genuine Parts by 266.5% in the second quarter. Edgestream Partners L.P. now owns 6,007 shares of the specialty retailer’s stock worth $831,000 after acquiring an additional 4,368 shares during the period. Amalgamated Bank boosted its holdings in shares of Genuine Parts by 26.9% in the second quarter. Amalgamated Bank now owns 36,809 shares of the specialty retailer’s stock worth $5,091,000 after acquiring an additional 7,799 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of Genuine Parts by 4.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 9,498 shares of the specialty retailer’s stock valued at $1,311,000 after purchasing an additional 439 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GPC has been the subject of several analyst reports. JPMorgan Chase & Co. cut their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday. Evercore ISI increased their target price 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 target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Finally, UBS Group lowered their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $141.50.

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 stock was 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.37% of the company’s stock.

Genuine Parts Stock Down 0.8 %

Shares of NYSE:GPC opened at $118.43 on Friday. The firm has a market capitalization of $16.47 billion, a PE ratio of 15.24 and a beta of 0.95. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The firm has a fifty day moving average of $120.69 and a 200 day moving average of $130.43.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data 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). The firm had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. Genuine Parts’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.49 earnings per share. As a group, research analysts anticipate that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

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.