Genuine Parts (NYSE:GPC) Shares Sold by Weaver C. Barksdale & Associates Inc.

Weaver C. Barksdale & Associates Inc. lessened its holdings in shares of Genuine Parts (NYSE:GPC) by 2.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,437 shares of the specialty retailer’s stock after selling 261 shares during the quarter. Weaver C. Barksdale & Associates Inc.’s holdings in Genuine Parts were worth $1,219,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quantinno Capital Management LP lifted its holdings in Genuine Parts by 74.0% in the third quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock worth $1,580,000 after purchasing an additional 4,809 shares during the period. Caprock Group LLC bought a new position in shares of Genuine Parts in the fourth quarter valued at approximately $540,000. Verity & Verity LLC increased its stake in shares of Genuine Parts by 9.7% during the fourth quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock valued at $12,198,000 after acquiring an additional 9,199 shares during the period. Proficio Capital Partners LLC bought a new stake in Genuine Parts during the fourth quarter worth approximately $21,840,000. Finally, Nomura Asset Management Co. Ltd. lifted its position in Genuine Parts by 23.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 303,676 shares of the specialty retailer’s stock worth $42,417,000 after purchasing an additional 56,776 shares during the period. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Down 2.3 %

Genuine Parts stock opened at $117.84 on Wednesday. The company has a 50 day moving average price of $121.09 and a 200 day moving average price 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. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The firm has a market capitalization of $16.35 billion, a price-to-earnings ratio of 18.21 and a beta of 0.93.

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, beating the consensus estimate of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period in the previous year, the firm earned $2.26 earnings per share. Research analysts forecast that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be given a dividend of $1.03 per share. The ex-dividend date 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 yield of 3.50%. Genuine Parts’s payout ratio is presently 63.68%.

Analyst Upgrades and Downgrades

GPC has been the topic of a number of research reports. Evercore ISI dropped their price objective 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. Truist Financial upped their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Loop Capital began coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective on the stock. Finally, Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and a consensus target price of $137.63.

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.