TD Private Client Wealth LLC Decreases Stock Position in Genuine Parts (NYSE:GPC)

TD Private Client Wealth LLC reduced its holdings in shares of Genuine Parts (NYSE:GPC) by 20.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,843 shares of the specialty retailer’s stock after selling 467 shares during the quarter. TD Private Client Wealth LLC’s holdings in Genuine Parts were worth $215,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Hartford Financial Management Inc. increased its stake in shares of Genuine Parts by 0.5% during the 4th quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer’s stock worth $2,185,000 after purchasing an additional 99 shares in the last quarter. New York Life Investment Management LLC increased its position in Genuine Parts by 0.6% during the fourth quarter. New York Life Investment Management LLC now owns 18,743 shares of the specialty retailer’s stock worth $2,188,000 after buying an additional 108 shares in the last quarter. Grimes & Company Inc. increased its position in Genuine Parts by 3.3% during the fourth quarter. Grimes & Company Inc. now owns 3,494 shares of the specialty retailer’s stock worth $408,000 after buying an additional 111 shares in the last quarter. Townsquare Capital LLC raised its holdings in shares of Genuine Parts by 0.4% in the third quarter. Townsquare Capital LLC now owns 27,881 shares of the specialty retailer’s stock worth $3,894,000 after acquiring an additional 115 shares during the last quarter. Finally, Pinnacle Financial Partners Inc boosted its stake in shares of Genuine Parts by 2.5% during the fourth quarter. Pinnacle Financial Partners Inc now owns 4,630 shares of the specialty retailer’s stock valued at $541,000 after acquiring an additional 115 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Down 2.3 %

Shares of NYSE:GPC opened at $117.84 on Wednesday. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The stock has a 50-day simple moving average of $121.09 and a 200-day simple moving average of $124.35. 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 stock has a market capitalization of $16.35 billion, a P/E ratio of 18.21 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter in the previous year, the business posted $2.26 EPS. Equities analysts forecast that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be issued a dividend of $1.03 per share. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Friday, March 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 63.68%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GPC. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Truist Financial upped their price objective 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. Loop Capital assumed coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price for the company. Finally, Evercore ISI reduced their price target on 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. Eight 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $137.63.

Genuine Parts Company 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.