Sigma Planning Corp Sells 1,991 Shares of Genuine Parts (NYSE:GPC)

Sigma Planning Corp lowered its position in shares of Genuine Parts (NYSE:GPC) by 55.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,617 shares of the specialty retailer’s stock after selling 1,991 shares during the quarter. Sigma Planning Corp’s holdings in Genuine Parts were worth $224,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. OFI Invest Asset Management bought a new stake in Genuine Parts during the third quarter valued at $25,000. Briaud Financial Planning Inc acquired a new position in shares of Genuine Parts during the third quarter valued at about $28,000. Milestone Investment Advisors LLC acquired a new position in shares of Genuine Parts during the third quarter valued at about $28,000. Authentikos Wealth Advisory LLC acquired a new position in shares of Genuine Parts during the third quarter valued at about $40,000. Finally, Orion Capital Management LLC acquired a new position in shares of Genuine Parts during the third quarter valued at about $42,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 0.7 %

Genuine Parts stock opened at $159.93 on Monday. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $174.91. The firm has a 50 day moving average price of $152.13 and a 200-day moving average price of $142.92. The company has a market capitalization of $22.28 billion, a P/E ratio of 17.83 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 (NYSE:GPC) last released its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the prior year, the firm earned $2.14 EPS. The company’s revenue was up .3% compared to the same quarter last year. As a group, equities analysts predict that Genuine Parts will post 9.89 EPS for the current year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were issued a $1.00 dividend. The ex-dividend date was Thursday, February 29th. This is an increase from Genuine Parts’s previous quarterly dividend of $0.95. This represents a $4.00 annualized dividend and a yield of 2.50%. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the transaction, the director now directly owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.37% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group upped their price objective on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. Wedbush restated a “neutral” rating and issued a $170.00 target price (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Evercore ISI lowered their target price on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Finally, Truist Financial upped their target price on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $173.10.

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.