Genuine Parts (NYSE:GPC) Holdings Lowered by IFP Advisors Inc

IFP Advisors Inc trimmed its stake in shares of Genuine Parts (NYSE:GPC) by 3.7% in the 4th quarter, HoldingsChannel reports. The firm owned 3,269 shares of the specialty retailer’s stock after selling 127 shares during the quarter. IFP Advisors Inc’s holdings in Genuine Parts were worth $382,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GPC. State Street Corp lifted its stake in Genuine Parts by 5.4% in the 3rd quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock worth $1,103,300,000 after acquiring an additional 401,180 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in Genuine Parts by 1,038.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer’s stock worth $38,803,000 after acquiring an additional 253,400 shares in the last quarter. Synovus Financial Corp lifted its stake in Genuine Parts by 95.4% in the 3rd quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer’s stock worth $54,708,000 after acquiring an additional 191,272 shares in the last quarter. KBC Group NV lifted its stake in Genuine Parts by 70.4% in the 3rd quarter. KBC Group NV now owns 363,907 shares of the specialty retailer’s stock worth $50,831,000 after acquiring an additional 150,356 shares in the last quarter. Finally, Vest Financial LLC lifted its stake in Genuine Parts by 40.3% in the 4th quarter. Vest Financial LLC now owns 501,802 shares of the specialty retailer’s stock worth $58,590,000 after acquiring an additional 144,091 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Truist Financial increased their price objective on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Loop Capital began coverage on Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price target for the company. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Evercore ISI cut their price target on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Finally, Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Eight research 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $137.63.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $125.02 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The firm has a market cap of $17.35 billion, a price-to-earnings ratio of 19.32 and a beta of 0.94. The business’s 50-day simple moving average is $118.94 and its 200-day simple moving average is $126.58. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same quarter in the prior year, the firm posted $2.26 EPS. As a group, equities research analysts expect that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be issued a dividend of $1.03 per share. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.30%. Genuine Parts’s dividend payout ratio is currently 63.68%.

Insider Activity

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 sale, the director now owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.37% of the stock is currently owned by insiders.

Genuine Parts 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.