Genuine Parts (NYSE:GPC) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. trimmed its holdings in Genuine Parts (NYSE:GPCFree Report) by 21.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,774 shares of the specialty retailer’s stock after selling 1,059 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Genuine Parts were worth $523,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Assetmark Inc. lifted its holdings in Genuine Parts by 109.1% in the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 96 shares during the last quarter. Milestone Investment Advisors LLC acquired a new stake in Genuine Parts during the 3rd quarter worth about $28,000. Orion Capital Management LLC acquired a new stake in Genuine Parts during the 3rd quarter worth about $42,000. Costello Asset Management INC raised its holdings in Genuine Parts by 200.0% during the 4th quarter. Costello Asset Management INC now owns 300 shares of the specialty retailer’s stock worth $42,000 after buying an additional 200 shares during the period. Finally, HHM Wealth Advisors LLC acquired a new stake in Genuine Parts during the 4th quarter worth about $46,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Wendy B. Needham sold 3,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the transaction, the director now owns 13,006 shares in the company, valued at approximately $1,967,677.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the transaction, the director now directly owns 14,397 shares in the company, valued at $2,230,383.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wendy B. Needham sold 3,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the transaction, the director now directly owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The disclosure for this sale can be found here. 0.37% of the stock is owned by insiders.

Genuine Parts Stock Up 2.5 %

Shares of GPC traded up $3.46 during midday trading on Friday, reaching $144.14. 1,500,320 shares of the stock were exchanged, compared to its average volume of 706,413. The company has a market cap of $20.08 billion, a price-to-earnings ratio of 16.07 and a beta of 0.94. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $170.57. The firm has a 50 day simple moving average of $152.66 and a 200-day simple moving average of $145.79.

Genuine Parts (NYSE:GPCGet Free Report) last issued its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.07. The firm had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the firm earned $2.14 earnings per share. Research analysts forecast that Genuine Parts will post 9.92 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.78%. Genuine Parts’s dividend payout ratio is currently 44.59%.

Analysts Set New Price Targets

Several research firms have issued reports on GPC. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Truist Financial boosted their price objective on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Evercore ISI cut their price objective on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Wedbush restated a “neutral” rating and set a $170.00 price objective (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Finally, Jefferies Financial Group boosted their price objective on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $171.33.

View Our Latest Research Report on GPC

Genuine Parts Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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