WealthPlan Investment Management LLC Sells 3,718 Shares of Genuine Parts (NYSE:GPC)

WealthPlan Investment Management LLC reduced its stake in shares of Genuine Parts (NYSE:GPC) by 5.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,231 shares of the specialty retailer’s stock after selling 3,718 shares during the period. WealthPlan Investment Management LLC’s holdings in Genuine Parts were worth $7,850,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in Genuine Parts during the third quarter valued at about $26,000. Capital Performance Advisors LLP bought a new position in Genuine Parts during the third quarter valued at about $31,000. Concord Wealth Partners raised its holdings in Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 119 shares in the last quarter. Synergy Asset Management LLC bought a new position in Genuine Parts during the fourth quarter valued at about $32,000. Finally, Catalyst Capital Advisors LLC bought a new position in Genuine Parts during the third quarter valued at about $44,000. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. The Goldman Sachs Group dropped their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. UBS Group dropped their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Evercore ISI lifted their price objective on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. dropped their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Finally, 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 research note on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and an average target price of $141.50.

Genuine Parts Stock Up 0.2 %

NYSE GPC opened at $124.87 on Friday. 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’s 50 day moving average is $118.36 and its two-hundred day moving average is $127.88. The company has a market capitalization of $17.36 billion, a price-to-earnings ratio of 16.07 and a beta of 0.94. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s payout ratio is 51.48%.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts 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 sale, the director now directly owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.