Genuine Parts (NYSE:GPC) Stake Cut by Private Trust Co. NA

Private Trust Co. NA reduced its holdings in Genuine Parts (NYSE:GPC) by 70.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,342 shares of the specialty retailer’s stock after selling 7,939 shares during the period. Private Trust Co. NA’s holdings in Genuine Parts were worth $390,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GPC. Argyle Capital Management LLC increased its position in Genuine Parts by 4.7% in the 4th quarter. Argyle Capital Management LLC now owns 28,261 shares of the specialty retailer’s stock worth $3,300,000 after purchasing an additional 1,263 shares during the last quarter. Versor Investments LP acquired a new position in Genuine Parts in the 4th quarter worth about $759,000. First Command Advisory Services Inc. acquired a new position in Genuine Parts in the 4th quarter worth about $28,000. Proficio Capital Partners LLC acquired a new position in Genuine Parts in the 4th quarter worth about $21,840,000. Finally, Mn Services Vermogensbeheer B.V. increased its position in Genuine Parts by 2.2% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 55,006 shares of the specialty retailer’s stock worth $6,423,000 after purchasing an additional 1,200 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $125.02 on Monday. The business has a 50 day moving average price of $118.94 and a 200 day moving average price of $126.50. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The company has a market cap of $17.35 billion, a price-to-earnings ratio of 19.32 and a beta of 0.94. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the prior year, the company earned $2.26 EPS. Research analysts predict that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be paid a dividend of $1.03 per share. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. This represents a $4.12 annualized dividend and a yield of 3.30%. Genuine Parts’s dividend payout ratio is presently 63.68%.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the sale, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Loop Capital assumed coverage on Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective on the stock. Evercore ISI lowered their price objective on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Finally, Truist Financial increased their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Eight investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $137.63.

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.