Summit Financial Wealth Advisors LLC Sells 442 Shares of Genuine Parts (NYSE:GPC)

Summit Financial Wealth Advisors LLC trimmed its position in shares of Genuine Parts (NYSE:GPC) by 0.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,949 shares of the specialty retailer’s stock after selling 442 shares during the quarter. Genuine Parts accounts for 2.2% of Summit Financial Wealth Advisors LLC’s investment portfolio, making the stock its 12th largest holding. Summit Financial Wealth Advisors LLC’s holdings in Genuine Parts were worth $10,682,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Assetmark Inc. raised its holdings in Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after buying an additional 96 shares during the last quarter. WD Rutherford LLC acquired a new position in Genuine Parts during the first quarter worth $26,000. Union Savings Bank raised its holdings in Genuine Parts by 100.0% during the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after buying an additional 100 shares during the last quarter. Thompson Investment Management Inc. acquired a new position in Genuine Parts during the first quarter worth $35,000. Finally, Stephens Consulting LLC raised its holdings in Genuine Parts by 740.7% during the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after buying an additional 200 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the sale, the director now directly owns 13,006 shares of the company’s stock, valued at $1,967,677.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

GPC has been the topic of several research reports. Truist Financial upped their price objective on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. UBS Group reduced their target price on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Jefferies Financial Group upped their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, May 24th. Finally, Evercore ISI reduced their target price on shares of Genuine Parts from $165.00 to $160.00 and set an “in-line” rating for the company in a research note on Tuesday, July 2nd. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $167.75.

Genuine Parts Stock Performance

GPC traded up $0.43 during trading on Monday, hitting $132.88. 837,070 shares of the company traded hands, compared to its average volume of 994,364. The firm has a market cap of $18.51 billion, a P/E ratio of 14.81 and a beta of 0.92. The stock’s fifty day moving average is $145.18 and its 200 day moving average is $146.38. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. Genuine Parts has a one year low of $126.35 and a one year high of $170.57.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.07. The company had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.14 earnings per share. As a group, equities analysts predict that Genuine Parts will post 9.92 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

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