Inspire Investing LLC Sells 6,685 Shares of Genuine Parts (NYSE:GPC)

Inspire Investing LLC trimmed its position in Genuine Parts (NYSE:GPC) by 30.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,031 shares of the specialty retailer’s stock after selling 6,685 shares during the period. Inspire Investing LLC’s holdings in Genuine Parts were worth $2,099,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of GPC. WD Rutherford LLC acquired a new position in shares of Genuine Parts during the first quarter valued at about $26,000. Thompson Investment Management Inc. acquired a new position in Genuine Parts during the 1st quarter valued at approximately $35,000. Stephens Consulting LLC raised its holdings in shares of Genuine Parts by 740.7% in the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after buying an additional 200 shares during the last quarter. Bruce G. Allen Investments LLC lifted its stake in shares of Genuine Parts by 149.0% during the first quarter. Bruce G. Allen Investments LLC now owns 254 shares of the specialty retailer’s stock worth $39,000 after buying an additional 152 shares during the period. Finally, Quarry LP grew its holdings in shares of Genuine Parts by 138.7% during the fourth quarter. Quarry LP now owns 284 shares of the specialty retailer’s stock valued at $39,000 after buying an additional 165 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GPC. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Evercore ISI decreased their target price on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a report on Wednesday, July 24th. Wedbush cut their price target on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Truist Financial restated a “buy” rating and set a $164.00 price objective on shares of Genuine Parts in a research note on Wednesday, August 28th. Finally, UBS Group cut their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 3rd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $137.24 on Monday. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $164.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. The company’s fifty day moving average price is $138.60 and its 200 day moving average price is $143.55. The company has a market capitalization of $19.12 billion, a PE ratio of 15.30 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same quarter last year, the business earned $2.44 earnings per share. Genuine Parts’s revenue was up .8% on a year-over-year basis. On average, research analysts predict that Genuine Parts will post 9.37 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Friday, September 6th. Genuine Parts’s payout ratio is 44.59%.

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.