Camden National Bank Reduces Stock Position in Genuine Parts (NYSE:GPC)

Camden National Bank trimmed its position in Genuine Parts (NYSE:GPC) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,107 shares of the specialty retailer’s stock after selling 531 shares during the period. Camden National Bank’s holdings in Genuine Parts were worth $7,835,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GPC. Ashton Thomas Securities LLC acquired a new position in shares of Genuine Parts in the third quarter valued at approximately $26,000. Kestra Investment Management LLC acquired a new position in Genuine Parts in the 4th quarter valued at $28,000. First Command Advisory Services Inc. acquired a new position in Genuine Parts in the 4th quarter valued at $28,000. Compass Planning Associates Inc purchased a new position in shares of Genuine Parts during the 4th quarter worth $29,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Genuine Parts during the third quarter worth $31,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the 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 sale, the director now owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.37% of the company’s stock.

Genuine Parts Trading Up 1.2 %

Shares of GPC stock opened at $127.41 on Friday. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The firm’s 50 day moving average price is $119.53 and its two-hundred day moving average price is $126.27. The stock has a market cap of $17.68 billion, a price-to-earnings ratio of 19.69 and a beta of 0.93. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86.

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 the consensus estimate of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter in the previous year, the business posted $2.26 EPS. On average, analysts anticipate 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. Stockholders of record on Friday, March 7th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.23%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio (DPR) is 63.68%.

Analysts Set New Price Targets

GPC has been the topic of several recent analyst reports. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Evercore ISI decreased their target price on shares of 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. Loop Capital started coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price target for the company. Finally, Truist Financial lifted their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and a consensus price target of $137.63.

Genuine Parts Company 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.