GLOBALT Investments LLC GA Sells 1,832 Shares of Genuine Parts (NYSE:GPC)

GLOBALT Investments LLC GA cut its stake in shares of Genuine Parts (NYSE:GPC) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,338 shares of the specialty retailer’s stock after selling 1,832 shares during the period. GLOBALT Investments LLC GA’s holdings in Genuine Parts were worth $4,710,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. State Street Corp lifted its stake in Genuine Parts by 5.4% during the 3rd quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock valued at $1,103,300,000 after acquiring an additional 401,180 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Genuine Parts by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer’s stock valued at $458,947,000 after purchasing an additional 32,858 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Genuine Parts by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer’s stock valued at $337,428,000 after purchasing an additional 145,960 shares during the last quarter. Stifel Financial Corp increased its position in shares of Genuine Parts by 1.2% during the 3rd quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer’s stock valued at $287,405,000 after purchasing an additional 25,015 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Genuine Parts by 6.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer’s stock valued at $257,124,000 after purchasing an additional 114,180 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Trading Up 2.3 %

Shares of GPC opened at $122.16 on Monday. The business has a 50-day moving average of $120.41 and a 200 day moving average of $125.30. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The firm has a market cap of $16.95 billion, a P/E ratio of 18.88 and a beta of 0.93. 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 (NYSE:GPC) last posted its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. The business had revenue of $5.77 billion during the quarter, compared to analyst estimates 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 firm earned $2.26 EPS. As a group, research analysts forecast that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Friday, March 7th. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s payout ratio is presently 63.68%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GPC. Truist Financial raised their target price on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Loop Capital began coverage on Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 target price for the company. Evercore ISI decreased their target price on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Finally, Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.