Azzad Asset Management Inc. ADV Sells 3,196 Shares of Genuine Parts (NYSE:GPC)

Azzad Asset Management Inc. ADV decreased its holdings in shares of Genuine Parts (NYSE:GPC) by 8.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,155 shares of the specialty retailer’s stock after selling 3,196 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Genuine Parts were worth $5,292,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GPC. Norges Bank bought a new position in shares of Genuine Parts during the fourth quarter valued at approximately $215,643,000. International Assets Investment Management LLC increased its stake in shares of Genuine Parts by 15,175.4% during the fourth quarter. International Assets Investment Management LLC now owns 713,056 shares of the specialty retailer’s stock valued at $98,758,000 after purchasing an additional 708,388 shares in the last quarter. Stifel Financial Corp increased its stake in shares of Genuine Parts by 27.0% during the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after purchasing an additional 431,623 shares in the last quarter. Morningstar Investment Services LLC increased its stake in shares of Genuine Parts by 161.2% during the fourth quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock valued at $80,066,000 after purchasing an additional 357,091 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Genuine Parts by 23.7% during the third quarter. Ameriprise Financial Inc. now owns 1,633,941 shares of the specialty retailer’s stock valued at $235,916,000 after acquiring an additional 313,438 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

NYSE:GPC traded down $3.20 during trading hours on Wednesday, reaching $132.78. The company had a trading volume of 181,774 shares, compared to its average volume of 988,437. The firm’s 50 day moving average price is $147.42 and its 200-day moving average price is $146.53. The firm has a market cap of $18.50 billion, a price-to-earnings ratio of 15.16 and a beta of 0.92. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $170.57. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.07. The business had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the company posted $2.14 EPS. On average, analysts forecast that Genuine Parts will post 9.92 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 7th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend was Friday, June 7th. Genuine Parts’s dividend payout ratio is presently 44.59%.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the transaction, the director now owns 13,006 shares in the company, valued at approximately $1,967,677.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Evercore ISI reduced their price target on shares of Genuine Parts from $165.00 to $160.00 and set an “in-line” rating for the company in a research report on Tuesday. Jefferies Financial Group raised their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Wedbush reissued a “neutral” rating and set a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Truist Financial raised their price target on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Finally, StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, May 24th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $167.75.

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.