Genuine Parts (NYSE:GPC) Shares Sold by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,598 shares of the specialty retailer’s stock after selling 189 shares during the period. Bahl & Gaynor Inc.’s holdings in Genuine Parts were worth $1,354,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Metis Global Partners LLC increased its holdings in shares of Genuine Parts by 1.9% during the third quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock valued at $625,000 after purchasing an additional 85 shares during the period. Guardian Wealth Advisors LLC increased its holdings in shares of Genuine Parts by 2.7% during the third quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock valued at $484,000 after purchasing an additional 91 shares during the period. Marco Investment Management LLC increased its holdings in shares of Genuine Parts by 1.2% during the third quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock valued at $1,104,000 after purchasing an additional 91 shares during the period. Hartford Financial Management Inc. increased its holdings in shares of Genuine Parts by 0.5% during the fourth quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer’s stock valued at $2,185,000 after purchasing an additional 99 shares during the period. Finally, Citizens Financial Group Inc. RI increased its holdings in shares of Genuine Parts by 2.8% during the third quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer’s stock valued at $533,000 after purchasing an additional 103 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the sale, the director now directly 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.37% of the company’s stock.

Genuine Parts Trading Down 0.8 %

Shares of NYSE GPC opened at $123.00 on Wednesday. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The business has a 50-day moving average price of $119.21 and a two-hundred day moving average price of $126.29. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $17.07 billion, a PE ratio of 19.01 and a beta of 0.94.

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

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.35%. Genuine Parts’s dividend payout ratio (DPR) is 63.68%.

Wall Street Analyst Weigh In

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