Heritage Trust Co decreased its position in Genuine Parts (NYSE:GPC) by 1.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 25,143 shares of the specialty retailer’s stock after selling 281 shares during the period. Heritage Trust Co’s holdings in Genuine Parts were worth $2,906,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GPC. Dynamic Advisor Solutions LLC grew its stake in Genuine Parts by 1.6% during the first quarter. Dynamic Advisor Solutions LLC now owns 5,349 shares of the specialty retailer’s stock worth $618,000 after purchasing an additional 84 shares during the period. IFP Advisors Inc grew its stake in Genuine Parts by 4.0% in the first quarter. IFP Advisors Inc now owns 2,239 shares of the specialty retailer’s stock valued at $260,000 after acquiring an additional 86 shares during the period. Penserra Capital Management LLC grew its stake in Genuine Parts by 49.5% in the fourth quarter. Penserra Capital Management LLC now owns 305 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 101 shares during the period. Trustcore Financial Services LLC grew its stake in Genuine Parts by 1.7% in the fourth quarter. Trustcore Financial Services LLC now owns 6,578 shares of the specialty retailer’s stock valued at $661,000 after acquiring an additional 112 shares during the period. Finally, Parallel Advisors LLC grew its stake in Genuine Parts by 3.3% in the first quarter. Parallel Advisors LLC now owns 3,573 shares of the specialty retailer’s stock valued at $413,000 after acquiring an additional 113 shares during the period. Hedge funds and other institutional investors own 75.26% of the company’s stock.
A number of brokerages have commented on GPC. TheStreet raised Genuine Parts from a “c+” rating to a “b” rating in a research note on Monday, April 26th. JPMorgan Chase & Co. lifted their target price on Genuine Parts from $115.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, April 26th. Evercore ISI reaffirmed a “hold” rating on shares of Genuine Parts in a research report on Sunday, April 25th. Argus lifted their target price on Genuine Parts from $109.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, April 28th. Finally, Zacks Investment Research raised Genuine Parts from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a research report on Tuesday, April 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Genuine Parts presently has a consensus rating of “Hold” and a consensus target price of $127.50.
Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Wednesday, April 21st. The specialty retailer reported $1.50 EPS for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.36. The business had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.30 billion. Genuine Parts had a return on equity of 27.80% and a net margin of 0.31%. Genuine Parts’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the company posted $0.92 earnings per share. As a group, equities research analysts anticipate that Genuine Parts will post 6.05 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Friday, June 4th will be issued a dividend of $0.815 per share. The ex-dividend date of this dividend is Thursday, June 3rd. This represents a $3.26 dividend on an annualized basis and a yield of 2.53%. Genuine Parts’s dividend payout ratio (DPR) is currently 61.86%.
In related news, insider Kevin Herron sold 2,500 shares of Genuine Parts stock in a transaction on Friday, May 21st. The stock was sold at an average price of $132.31, for a total transaction of $330,775.00. Following the sale, the insider now directly owns 13,754 shares in the company, valued at $1,819,791.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.50% of the company’s stock.
About Genuine Parts
Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. The company distributes automotive replacement parts for imported vehicles, hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.
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