Genuine Parts (NYSE:GPC) Position Lowered by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC decreased its stake in shares of Genuine Parts (NYSE:GPC) by 13.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,849 shares of the specialty retailer’s stock after selling 297 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Genuine Parts were worth $216,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Lifeworks Advisors LLC raised its stake in Genuine Parts by 48.4% during the fourth quarter. Lifeworks Advisors LLC now owns 3,141 shares of the specialty retailer’s stock worth $367,000 after acquiring an additional 1,024 shares during the period. Novus Advisors LLC acquired a new stake in Genuine Parts during the fourth quarter worth about $597,000. Edgestream Partners L.P. acquired a new stake in Genuine Parts during the fourth quarter worth about $776,000. Ashton Thomas Private Wealth LLC raised its stake in Genuine Parts by 23.2% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,180 shares of the specialty retailer’s stock worth $374,000 after acquiring an additional 598 shares during the period. Finally, Callan Family Office LLC acquired a new stake in Genuine Parts during the fourth quarter worth about $253,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $123.74 on Wednesday. The firm’s 50 day moving average is $120.15 and its two-hundred day moving average is $125.76. 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 $17.17 billion, a P/E ratio of 19.13 and a beta of 0.93. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.07. The business had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same period last year, the firm posted $2.26 earnings per share. Analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current 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 $1.03 dividend. The ex-dividend date is Friday, March 7th. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a dividend yield of 3.33%. Genuine Parts’s dividend payout ratio (DPR) is 63.68%.

Analyst Ratings Changes

GPC has been the topic of several research reports. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Evercore ISI dropped their price objective on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Loop Capital started coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target on the stock. Finally, Truist Financial raised their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Eight equities 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $137.63.

Insider Activity

In other news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the transaction, the director now directly owns 11,357 shares in the company, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.42% of the company’s stock.

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.