Pine Valley Investments Ltd Liability Co Sells 1,137 Shares of Genuine Parts (NYSE:GPC)

Pine Valley Investments Ltd Liability Co lessened its stake in shares of Genuine Parts (NYSE:GPC) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,938 shares of the specialty retailer’s stock after selling 1,137 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Genuine Parts were worth $3,040,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in Genuine Parts in the 3rd quarter worth $26,000. Kestra Investment Management LLC purchased a new stake in shares of Genuine Parts during the fourth quarter worth about $28,000. Compass Planning Associates Inc bought a new stake in shares of Genuine Parts in the fourth quarter worth about $29,000. Capital Performance Advisors LLP bought a new stake in shares of Genuine Parts in the third quarter worth about $31,000. Finally, Synergy Asset Management LLC purchased a new position in Genuine Parts during the 4th quarter valued at about $32,000. Institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on GPC. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Evercore ISI dropped their price target on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Loop Capital started coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price for the company. Finally, Truist Financial lifted their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Genuine Parts has an average rating of “Hold” and a consensus price target of $137.63.

Genuine Parts Stock Up 0.5 %

Shares of Genuine Parts stock opened at $122.19 on Tuesday. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The firm has a market cap of $16.99 billion, a price-to-earnings ratio of 18.89 and a beta of 0.94. The company has a 50-day moving average of $118.36 and a 200 day moving average of $126.88. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter last year, the firm earned $2.26 earnings per share. As a group, sell-side analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.37%. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts’s payout ratio is 63.68%.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the transaction, the director now owns 11,357 shares of the company’s stock, valued at $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.37% of the company’s stock.

About Genuine Parts

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.