Genuine Parts (NYSE:GPC) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. cut its position in shares of Genuine Parts (NYSE:GPC) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,449 shares of the specialty retailer’s stock after selling 170 shares during the quarter. Securian Asset Management Inc.’s holdings in Genuine Parts were worth $870,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kestra Investment Management LLC acquired a new position in Genuine Parts during the fourth quarter worth $28,000. First Command Advisory Services Inc. acquired a new position in Genuine Parts during the fourth quarter worth $28,000. Compass Planning Associates Inc acquired a new position in Genuine Parts during the fourth quarter worth $29,000. Synergy Asset Management LLC acquired a new position in Genuine Parts during the fourth quarter worth $32,000. Finally, OFI Invest Asset Management acquired a new position in Genuine Parts during the fourth quarter worth $34,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GPC has been the subject of a number of analyst reports. Loop Capital initiated coverage on Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. Evercore ISI cut their price target on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Truist Financial boosted their price target on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Finally, Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Eight 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $137.63.

Genuine Parts Price Performance

GPC stock opened at $122.16 on Friday. The stock has a 50-day moving average price of $120.41 and a two-hundred day moving average price of $125.42. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. 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 company has a market cap of $16.95 billion, a PE ratio of 18.88 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 analysts’ consensus estimates of $1.54 by $0.07. The firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same quarter in the previous year, the business earned $2.26 earnings per share. As a group, research analysts predict 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. Shareholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s payout ratio is currently 63.68%.

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.