Genuine Parts (NYSE:GPC) Shares Sold by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV lowered its holdings in Genuine Parts (NYSE:GPC) by 8.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,155 shares of the specialty retailer’s stock after selling 3,196 shares during the quarter. 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 hedge funds and other institutional investors have also recently made changes to their positions in the business. NBC Securities Inc. boosted its holdings in Genuine Parts by 27.1% during the fourth quarter. NBC Securities Inc. now owns 3,129 shares of the specialty retailer’s stock worth $433,000 after buying an additional 668 shares in the last quarter. ICW Investment Advisors LLC lifted its holdings in Genuine Parts by 2.8% during the fourth quarter. ICW Investment Advisors LLC now owns 8,084 shares of the specialty retailer’s stock valued at $1,120,000 after purchasing an additional 221 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Genuine Parts by 22.0% during the fourth quarter. BNP Paribas Financial Markets now owns 148,121 shares of the specialty retailer’s stock valued at $20,515,000 after purchasing an additional 26,710 shares in the last quarter. Stifel Financial Corp lifted its holdings in 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. Finally, Conning Inc. lifted its holdings in Genuine Parts by 5.9% during the fourth quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock valued at $31,501,000 after purchasing an additional 12,634 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Trading Down 2.4 %

Genuine Parts stock traded down $3.20 during midday trading on Wednesday, hitting $132.78. 181,774 shares of the stock were exchanged, compared to its average volume of 988,437. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $170.57. The stock has a market capitalization of $18.50 billion, a price-to-earnings ratio of 15.16 and a beta of 0.92. The stock’s 50-day simple moving average is $147.42 and its 200 day simple moving average is $146.53. 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 announced its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same period last year, the business earned $2.14 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities analysts anticipate that Genuine Parts will post 9.92 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis 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%.

Analyst Upgrades and Downgrades

GPC has been the topic of several recent analyst reports. Jefferies Financial Group increased their price objective on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. Evercore ISI decreased their price target on shares of Genuine Parts from $165.00 to $160.00 and set an “in-line” rating on the stock in a research note on Tuesday. UBS Group decreased their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday. Wedbush reissued a “neutral” rating and issued a $170.00 price target (up from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Finally, Truist Financial raised their price target on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $167.75.

Insider Buying and Selling at Genuine Parts

In related news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the transaction, the director now owns 13,006 shares in the company, valued at $1,967,677.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company 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.