Meyer Handelman Co. Decreases Stake in Genuine Parts (NYSE:GPC)

Meyer Handelman Co. cut its position in Genuine Parts (NYSE:GPC) by 1.4% during the fourth quarter, HoldingsChannel reports. The firm owned 95,662 shares of the specialty retailer’s stock after selling 1,352 shares during the quarter. Meyer Handelman Co.’s holdings in Genuine Parts were worth $11,169,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Metis Global Partners LLC grew its stake in shares of Genuine Parts by 1.9% during the third quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock worth $625,000 after purchasing an additional 85 shares in the last quarter. Guardian Wealth Advisors LLC boosted its position in shares of Genuine Parts by 2.7% during the 3rd quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock worth $484,000 after acquiring an additional 91 shares in the last quarter. Marco Investment Management LLC increased its holdings in shares of Genuine Parts by 1.2% in the 3rd quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock valued at $1,104,000 after acquiring an additional 91 shares during the last quarter. First Citizens Bank & Trust Co. raised its position in shares of Genuine Parts by 5.9% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 1,711 shares of the specialty retailer’s stock worth $239,000 after acquiring an additional 95 shares in the last quarter. Finally, Citizens Financial Group Inc. RI lifted its stake in Genuine Parts by 2.8% during the third quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer’s stock worth $533,000 after purchasing an additional 103 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Up 0.4 %

Genuine Parts stock opened at $116.99 on Wednesday. The stock has a market capitalization of $16.27 billion, a price-to-earnings ratio of 15.06 and a beta of 0.95. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The stock has a 50 day moving average of $120.94 and a two-hundred day moving average of $130.86. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45.

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

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.42%. Genuine Parts’s dividend payout ratio (DPR) is 51.48%.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.37% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on GPC shares. JPMorgan Chase & Co. dropped their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Evercore ISI increased their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Truist Financial dropped their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, 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. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and a consensus target price of $139.57.

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.