Aspire Private Capital LLC Takes Position in Genuine Parts (NYSE:GPC)

Aspire Private Capital LLC bought a new position in Genuine Parts (NYSE:GPC) during the 4th quarter, Holdings Channel reports. The fund bought 1,990 shares of the specialty retailer’s stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Genuine Parts during the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP purchased a new stake in Genuine Parts during the third quarter valued at $31,000. Concord Wealth Partners lifted its position 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 purchasing an additional 119 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Genuine Parts in the 3rd quarter worth $44,000. Finally, First Financial Corp IN bought a new stake in shares of Genuine Parts in the 4th quarter worth about $44,000. 78.83% of the stock is owned by institutional investors.

Genuine Parts Trading Down 2.0 %

Shares of GPC opened at $117.66 on Thursday. The firm has a market capitalization of $16.36 billion, a price-to-earnings ratio of 15.14 and a beta of 0.95. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a 50-day moving average of $120.43 and a 200 day moving average of $130.09.

Genuine Parts (NYSE:GPC) last announced its quarterly 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). The firm had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.49 EPS. On average, research analysts expect that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.40%. Genuine Parts’s dividend payout ratio is currently 51.48%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. UBS Group dropped their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Evercore ISI lifted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group reduced their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Genuine Parts has an average rating of “Hold” and an average target price of $141.50.

Insider Activity at Genuine Parts

In other 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 transaction of $194,214.24. Following the transaction, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.