Bank of New Hampshire Sells 510 Shares of Genuine Parts (NYSE:GPC)

Bank of New Hampshire trimmed its position in Genuine Parts (NYSE:GPC) by 41.2% during the first quarter, HoldingsChannel.com reports. The fund owned 729 shares of the specialty retailer’s stock after selling 510 shares during the quarter. Bank of New Hampshire’s holdings in Genuine Parts were worth $113,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GPC. Norges Bank acquired a new stake in Genuine Parts in the fourth quarter valued at approximately $215,643,000. International Assets Investment Management LLC boosted its position in Genuine Parts by 15,175.4% in the fourth quarter. International Assets Investment Management LLC now owns 713,056 shares of the specialty retailer’s stock valued at $98,758,000 after buying an additional 708,388 shares in the last quarter. Stifel Financial Corp boosted its position in Genuine Parts by 27.0% in the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after buying an additional 431,623 shares in the last quarter. Morningstar Investment Services LLC boosted its position in Genuine Parts by 161.2% in the fourth quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock valued at $80,066,000 after buying an additional 357,091 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Genuine Parts by 23.7% during the third quarter. Ameriprise Financial Inc. now owns 1,633,941 shares of the specialty retailer’s stock worth $235,916,000 after purchasing an additional 313,438 shares during the period. 78.83% of the stock is owned by institutional investors.

Genuine Parts Trading Down 0.0 %

GPC opened at $141.39 on Friday. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $170.57. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. The company has a market cap of $19.70 billion, a P/E ratio of 15.76 and a beta of 0.92. The company has a fifty day moving average price of $149.77 and a two-hundred day moving average price of $146.30.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating the consensus estimate 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 previous year, the firm posted $2.14 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. Analysts predict that Genuine Parts will post 9.92 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.83%. The ex-dividend date is Friday, June 7th. Genuine Parts’s dividend payout ratio (DPR) is currently 44.59%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GPC shares. Evercore ISI lifted their price target on shares of Genuine Parts from $160.00 to $165.00 and gave the stock an “in-line” rating in a report on Thursday. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Jefferies Financial Group lifted their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Wedbush reiterated a “neutral” rating and set a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Finally, Truist Financial lifted their price target 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 equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Genuine Parts currently has a consensus rating of “Hold” and an average target price of $172.44.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 3,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the completion of the sale, the director now directly owns 13,006 shares of the company’s stock, valued at $1,967,677.74. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.37% of the stock is currently owned by insiders.

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.