Sentry Investment Management LLC Sells 86 Shares of Genuine Parts (NYSE:GPC)

Sentry Investment Management LLC decreased its holdings in shares of Genuine Parts (NYSE:GPC) by 14.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 530 shares of the specialty retailer’s stock after selling 86 shares during the period. Sentry Investment Management LLC’s holdings in Genuine Parts were worth $62,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Quantinno Capital Management LP lifted its position in Genuine Parts by 74.0% in the 3rd quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock valued at $1,580,000 after acquiring an additional 4,809 shares in the last quarter. Caprock Group LLC purchased a new stake in shares of Genuine Parts in the fourth quarter worth approximately $540,000. Miramar Capital LLC lifted its holdings in shares of Genuine Parts by 9.8% in the third quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock valued at $12,264,000 after purchasing an additional 7,845 shares in the last quarter. Verity & Verity LLC boosted its position 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 buying an additional 9,199 shares during the last quarter. Finally, Conning Inc. grew its holdings in Genuine Parts by 8.2% during the third quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock worth $36,499,000 after buying an additional 19,795 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Trading Up 0.7 %

NYSE:GPC opened at $122.95 on Friday. 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 firm’s 50 day moving average is $118.76 and its 200 day moving average is $126.72. The stock has a market capitalization of $17.06 billion, a PE ratio of 19.00 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last issued its 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. The firm had revenue of $5.77 billion for 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 period in the previous year, the company posted $2.26 earnings per share. Sell-side analysts expect that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders 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 yield of 3.35%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio (DPR) is currently 63.68%.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the firm’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 directly owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GPC. Loop Capital assumed coverage on Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective on the stock. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Truist Financial increased their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. 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 note on Wednesday, February 19th. Finally, Northcoast Research lowered 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.