Genuine Parts (NYSE:GPC) Shares Sold by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,076 shares of the specialty retailer’s stock after selling 73 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Genuine Parts were worth $288,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in shares of Genuine Parts in the third quarter valued at about $25,000. Briaud Financial Planning Inc acquired a new stake in Genuine Parts in the 3rd quarter worth about $28,000. Milestone Investment Advisors LLC purchased a new stake in Genuine Parts during the 3rd quarter worth approximately $28,000. Authentikos Wealth Advisory LLC acquired a new position in shares of Genuine Parts during the third quarter valued at approximately $40,000. Finally, Orion Capital Management LLC purchased a new position in shares of Genuine Parts in the third quarter valued at approximately $42,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Activity

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the sale, the director now owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The sale 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 Stock Up 0.6 %

Shares of NYSE GPC opened at $155.34 on Friday. The company has a market capitalization of $21.64 billion, a P/E ratio of 17.32 and a beta of 0.94. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. The company has a 50 day simple moving average of $153.82 and a 200-day simple moving average of $143.77. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $174.91.

Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter last year, the firm earned $2.14 earnings per share. The firm’s quarterly revenue was up .3% compared to the same quarter last year. On average, equities research analysts predict that Genuine Parts will post 9.94 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Friday, June 7th. Genuine Parts’s dividend payout ratio is presently 44.59%.

Analyst Ratings Changes

Several analysts recently commented on GPC shares. Jefferies Financial Group boosted their price target on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Evercore ISI reduced their target price on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Truist Financial raised their price target on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Wedbush reaffirmed a “neutral” rating and set a $170.00 price objective (up previously from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Finally, StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and a consensus price target of $173.10.

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.