Oppenheimer & Co. Inc. Sells 2,408 Shares of Genuine Parts (NYSE:GPC)

Oppenheimer & Co. Inc. decreased its position in Genuine Parts (NYSE:GPC) by 17.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,297 shares of the specialty retailer’s stock after selling 2,408 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Genuine Parts were worth $1,319,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in GPC. Equity Investment Corp bought a new stake in shares of Genuine Parts in the 4th quarter valued at approximately $84,128,000. State Street Corp grew 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 in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Genuine Parts by 1,038.4% in the 3rd 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 buying an additional 253,400 shares in the last quarter. Synovus Financial Corp grew its stake in shares of Genuine Parts by 95.4% in the 3rd quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer’s stock valued at $54,708,000 after buying an additional 191,272 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Genuine Parts by 70.4% in the 3rd quarter. KBC Group NV now owns 363,907 shares of the specialty retailer’s stock valued at $50,831,000 after buying an additional 150,356 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 0.8 %

Shares of GPC stock opened at $123.00 on Wednesday. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The firm has a market cap of $17.07 billion, a PE ratio of 19.01 and a beta of 0.94. The stock has a 50 day moving average of $119.21 and a 200-day moving average of $126.29. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The company had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same period in the previous year, the company earned $2.26 earnings per share. On average, equities analysts predict that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.35%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. Genuine Parts’s dividend payout ratio is presently 63.68%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Genuine Parts

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 value of $194,214.24. Following the completion of the transaction, the director now directly 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 document filed with the SEC, which is available through this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

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.