Bank of Jackson Hole Trust Purchases Shares of 3,534 Genuine Parts (NYSE:GPC)

Bank of Jackson Hole Trust acquired a new stake in shares of Genuine Parts (NYSE:GPC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,534 shares of the specialty retailer's stock, valued at approximately $413,000.

Several other institutional investors have also recently bought and sold shares of the company. Vontobel Holding Ltd. lifted its stake in Genuine Parts by 2.9% during the third quarter. Vontobel Holding Ltd. now owns 4,927 shares of the specialty retailer's stock worth $688,000 after purchasing an additional 137 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Genuine Parts by 1.1% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,024 shares of the specialty retailer's stock worth $2,238,000 after acquiring an additional 171 shares during the last quarter. Blue Trust Inc. raised its holdings in Genuine Parts by 65.4% during the 3rd quarter. Blue Trust Inc. now owns 3,909 shares of the specialty retailer's stock worth $541,000 after purchasing an additional 1,546 shares during the last quarter. First Citizens Bank & Trust Co. lifted its holdings in Genuine Parts by 5.9% in the third quarter. First Citizens Bank & Trust Co. now owns 1,711 shares of the specialty retailer's stock valued at $239,000 after buying an additional 95 shares during the period. Finally, Raymond James & Associates boosted its position in shares of Genuine Parts by 11.4% in the 3rd quarter. Raymond James & Associates now owns 413,206 shares of the specialty retailer's stock worth $57,717,000 after purchasing an additional 42,184 shares during the last quarter. Institutional investors own 78.83% of the company's stock.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the business's stock in a transaction on Friday, December 13th. The stock was 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. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.37% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on GPC shares. Truist Financial lifted their target price on Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a report on Wednesday. Evercore ISI lowered their target price on Genuine Parts from $128.00 to $125.00 and set an "in-line" rating on the stock in a research report on Wednesday. Redburn Atlantic raised Genuine Parts to a "hold" rating in a research report on Monday, November 11th. Loop Capital started coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They issued a "buy" rating and a $155.00 target price for the company. Finally, Northcoast Research lowered shares of Genuine Parts from a "buy" rating to a "neutral" rating in a 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Genuine Parts presently has a consensus rating of "Hold" and a consensus target price of $137.63.

Genuine Parts Price Performance

GPC traded down $1.59 during trading on Friday, reaching $121.68. The stock had a trading volume of 1,466,225 shares, compared to its average volume of 1,617,412. The business has a 50-day moving average of $118.28 and a 200-day moving average of $127.27. The stock has a market cap of $16.92 billion, a PE ratio of 18.81 and a beta of 0.94. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. 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 - Get Free Report) last posted its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $5.71 billion. During the same period last year, the firm earned $2.26 earnings per share. As a group, equities research analysts anticipate that Genuine Parts will post 7.91 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be issued a $1.03 dividend. The ex-dividend date is Friday, March 7th. This represents a $4.12 annualized dividend and a dividend yield of 3.39%. This is a positive change from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's payout ratio is presently 61.82%.

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.