Brooklyn Investment Group Sells 207 Shares of Genuine Parts (NYSE:GPC)

Brooklyn Investment Group decreased its position in shares of Genuine Parts (NYSE:GPC) by 29.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 503 shares of the specialty retailer’s stock after selling 207 shares during the period. Brooklyn Investment Group’s holdings in Genuine Parts were worth $59,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the business. International Assets Investment Management LLC increased its holdings in shares of Genuine Parts by 14,222.1% in the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after purchasing an additional 580,262 shares in the last quarter. State Street Corp increased its stake in shares of Genuine Parts by 5.4% in the 3rd quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock valued at $1,103,300,000 after buying an additional 401,180 shares during the period. Boston Trust Walden Corp bought a new stake in shares of Genuine Parts during the third quarter worth $39,474,000. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Genuine Parts by 1,038.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer’s stock valued at $38,803,000 after acquiring an additional 253,400 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its holdings in Genuine Parts by 29.6% in the second quarter. D. E. Shaw & Co. Inc. now owns 980,184 shares of the specialty retailer’s stock valued at $135,579,000 after acquiring an additional 223,712 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Down 0.8 %

NYSE GPC opened at $118.43 on Monday. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The firm has a market cap of $16.47 billion, a P/E ratio of 15.24 and a beta of 0.95. The stock’s 50-day moving average is $120.69 and its 200-day moving average is $130.37.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same quarter last year, the business posted $2.49 earnings per share. The business’s quarterly revenue was up 3.0% on a year-over-year basis. Sell-side analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

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

Insider Activity

In related news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Truist Financial dropped their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. JPMorgan Chase & Co. cut their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Finally, Wedbush decreased their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and an average price target of $141.50.

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.