Clear Harbor Asset Management LLC Has $466,000 Holdings in Genuine Parts (NYSE:GPC)

Clear Harbor Asset Management LLC boosted its stake in Genuine Parts (NYSE:GPC) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,994 shares of the specialty retailer’s stock after purchasing an additional 140 shares during the period. Clear Harbor Asset Management LLC’s holdings in Genuine Parts were worth $466,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new stake in shares of Genuine Parts in the third quarter valued at about $26,000. Capital Performance Advisors LLP acquired a new stake in Genuine Parts during the 3rd quarter valued at approximately $31,000. Concord Wealth Partners increased its position in Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 119 shares during the period. Catalyst Capital Advisors LLC bought a new position in Genuine Parts during the 3rd quarter worth approximately $44,000. Finally, First Financial Corp IN bought a new stake in shares of Genuine Parts in the 4th quarter valued at $44,000. 78.83% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the sale, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The sale 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.

Genuine Parts Trading Up 1.3 %

NYSE GPC opened at $120.10 on Wednesday. The business has a 50 day moving average price of $120.55 and a 200-day moving average price of $130.18. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The company has a market cap of $16.70 billion, a price-to-earnings ratio of 15.46 and a beta of 0.95.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The business had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same quarter in the prior year, the business earned $2.49 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, equities analysts expect that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.33%. Genuine Parts’s dividend payout ratio (DPR) is currently 51.48%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GPC. Truist Financial lowered their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. The Goldman Sachs Group lowered their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. UBS Group cut their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Wedbush lowered their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Finally, StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Eight investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to 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.