Genuine Parts (NYSE:GPC) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in Genuine Parts (NYSE:GPC) by 38.2% in the third quarter, HoldingsChannel reports. The firm owned 22,801 shares of the specialty retailer’s stock after selling 14,123 shares during the period. Wellington Management Group LLP’s holdings in Genuine Parts were worth $3,185,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. 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 during the period. Charles Schwab Investment Management Inc. lifted its holdings in Genuine Parts by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,743,970 shares of the specialty retailer’s stock valued at $383,511,000 after acquiring an additional 30,354 shares during the last quarter. Stifel Financial Corp grew its position in Genuine Parts by 1.2% in the third quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer’s stock worth $287,405,000 after acquiring an additional 25,015 shares during the period. Wulff Hansen & CO. increased its stake in Genuine Parts by 13,732.0% during the second quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock worth $216,675,000 after acquiring an additional 1,555,149 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Genuine Parts by 21.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,368,562 shares of the specialty retailer’s stock valued at $189,296,000 after purchasing an additional 239,858 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now directly owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.37% of the stock is owned by corporate insiders.

Genuine Parts Stock Performance

Shares of GPC stock opened at $118.47 on Wednesday. The firm has a 50 day moving average of $124.91 and a two-hundred day moving average of $134.18. The stock has a market capitalization of $16.47 billion, a PE ratio of 15.25 and a beta of 0.94. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last released its earnings results 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 company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter last year, the business posted $2.49 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, research analysts predict that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be paid a dividend of $1.00 per share. The ex-dividend date is Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.38%. Genuine Parts’s payout ratio is 51.48%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GPC shares. The Goldman Sachs Group lowered their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Wedbush lowered their price objective on shares of Genuine Parts from $145.00 to $120.00 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. Finally, Evercore ISI raised their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $139.57.

Genuine Parts 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.