Genuine Parts (NYSE:GPC) Shares Sold by TIAA Trust National Association

TIAA Trust National Association reduced its stake in Genuine Parts (NYSE:GPC) by 7.0% in the 4th quarter, Holdings Channel reports. The firm owned 2,221 shares of the specialty retailer’s stock after selling 166 shares during the quarter. TIAA Trust National Association’s holdings in Genuine Parts were worth $259,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. ICW Investment Advisors LLC raised its holdings in shares of Genuine Parts by 1.7% during the 4th quarter. ICW Investment Advisors LLC now owns 8,839 shares of the specialty retailer’s stock valued at $1,032,000 after buying an additional 149 shares during the period. LPL Financial LLC raised its stake in shares of Genuine Parts by 17.3% during the fourth quarter. LPL Financial LLC now owns 196,887 shares of the specialty retailer’s stock valued at $22,988,000 after purchasing an additional 29,042 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Genuine Parts during the fourth quarter worth $5,575,000. Mizuho Securities USA LLC boosted its stake in shares of Genuine Parts by 45.9% in the fourth quarter. Mizuho Securities USA LLC now owns 13,177 shares of the specialty retailer’s stock valued at $1,539,000 after purchasing an additional 4,143 shares during the period. Finally, Virtu Financial LLC grew its holdings in Genuine Parts by 414.2% during the 4th quarter. Virtu Financial LLC now owns 8,053 shares of the specialty retailer’s stock valued at $940,000 after purchasing an additional 6,487 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Trading Down 1.7 %

Shares of NYSE GPC opened at $118.49 on Friday. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The stock’s 50 day moving average price is $121.13 and its two-hundred day moving average price is $124.15. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The stock has a market capitalization of $16.44 billion, a P/E ratio of 18.31 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 (EPS) 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 business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period in the prior year, the company posted $2.26 EPS. On average, analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The firm 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. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.48%. 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. Genuine Parts’s dividend payout ratio is currently 63.68%.

Wall Street Analyst Weigh In

A number of brokerages have commented on GPC. Truist Financial boosted their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Loop Capital initiated coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target on the stock. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Finally, Evercore ISI cut their target price on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Eight research 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 data from MarketBeat.com, Genuine Parts has a consensus 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.