Genuine Parts (NYSE:GPC) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. cut its position in shares of Genuine Parts (NYSE:GPC) by 4.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,511 shares of the specialty retailer’s stock after selling 1,918 shares during the quarter. First Horizon Advisors Inc.’s holdings in Genuine Parts were worth $6,165,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GPC. Silver Lake Advisory LLC raised its holdings in Genuine Parts by 15.4% in the fourth quarter. Silver Lake Advisory LLC now owns 29,243 shares of the specialty retailer’s stock valued at $4,050,000 after buying an additional 3,911 shares during the period. Mechanics Financial Corp raised its stake in shares of Genuine Parts by 3.5% in the 4th quarter. Mechanics Financial Corp now owns 2,634 shares of the specialty retailer’s stock valued at $365,000 after acquiring an additional 90 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Genuine Parts by 9.0% during the 4th quarter. Fisher Asset Management LLC now owns 2,455 shares of the specialty retailer’s stock valued at $340,000 after acquiring an additional 203 shares in the last quarter. Heritage Wealth Management LLC purchased a new stake in Genuine Parts during the 4th quarter worth $659,000. Finally, First Trust Direct Indexing L.P. increased its holdings in Genuine Parts by 26.0% in the 4th quarter. First Trust Direct Indexing L.P. now owns 3,134 shares of the specialty retailer’s stock valued at $434,000 after purchasing an additional 646 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the transaction, the director now owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GPC shares. Jefferies Financial Group upped their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Wedbush restated a “neutral” rating and issued a $170.00 target price (up from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Evercore ISI cut their price objective on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Finally, Truist Financial lifted their target price on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Genuine Parts has a consensus rating of “Hold” and a consensus price target of $173.10.

Genuine Parts Stock Performance

Shares of GPC traded up $1.09 during mid-day trading on Friday, reaching $157.41. 662,832 shares of the company’s stock traded hands, compared to its average volume of 1,063,477. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $174.91. The stock has a market capitalization of $21.93 billion, a P/E ratio of 17.43 and a beta of 0.94. The business’s 50-day moving average price is $153.20 and its 200-day moving average price is $143.28. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14.

Genuine Parts (NYSE:GPC) last released its 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. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.14 earnings per share. Equities analysts predict that Genuine Parts will post 9.94 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Friday, June 7th. Genuine Parts’s payout ratio is 44.59%.

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.