Kentucky Retirement Systems Sells 132 Shares of Genuine Parts (NYSE:GPC)

Kentucky Retirement Systems lessened its holdings in Genuine Parts (NYSE:GPC) by 1.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,574 shares of the specialty retailer’s stock after selling 132 shares during the quarter. Kentucky Retirement Systems’ holdings in Genuine Parts were worth $1,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in Genuine Parts during the third quarter worth about $26,000. Kestra Investment Management LLC bought a new position in shares of Genuine Parts during the 4th quarter valued at approximately $28,000. Capital Performance Advisors LLP purchased a new stake in shares of Genuine Parts during the 3rd quarter worth approximately $31,000. Synergy Asset Management LLC bought a new stake in shares of Genuine Parts in the 4th quarter worth approximately $32,000. Finally, Concord Wealth Partners raised its holdings in shares of Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 119 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the business’s 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 owns 11,357 shares of the company’s stock, valued at $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.37% of the stock is owned by company insiders.

Genuine Parts Stock Performance

NYSE GPC opened at $121.68 on Monday. The company’s 50 day simple moving average is $118.29 and its two-hundred day simple moving average is $126.99. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The stock has a market capitalization of $16.92 billion, a PE ratio of 18.81 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter last year, the business posted $2.26 earnings per share. Analysts predict 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. Stockholders of record on Friday, March 7th will be issued a dividend of $1.03 per share. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. This represents a $4.12 annualized dividend and a dividend yield of 3.39%. Genuine Parts’s payout ratio is presently 63.68%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a report 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 report on Wednesday, February 19th. Truist Financial lifted their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, Loop Capital assumed coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price target on the stock. 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.