Genuine Parts (NYSE:GPC) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co decreased its position in Genuine Parts (NYSE:GPC - Free Report) by 17.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,576 shares of the specialty retailer's stock after selling 23,747 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.08% of Genuine Parts worth $13,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millstone Evans Group LLC acquired a new stake in shares of Genuine Parts during the fourth quarter worth about $25,000. Kestra Investment Management LLC purchased a new position in Genuine Parts during the 4th quarter worth approximately $28,000. First Command Advisory Services Inc. acquired a new stake in Genuine Parts during the 4th quarter valued at approximately $28,000. Compass Planning Associates Inc acquired a new stake in shares of Genuine Parts in the fourth quarter worth $29,000. Finally, Synergy Asset Management LLC acquired a new position in Genuine Parts during the fourth quarter valued at $32,000. Institutional investors and hedge funds own 78.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. StockNews.com upgraded Genuine Parts from a "hold" rating to a "buy" rating in a research note on Friday, April 18th. Loop Capital started coverage on Genuine Parts in a report on Thursday, January 16th. They issued a "buy" rating and a $155.00 price objective on the stock. Truist Financial upped their price target on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a research report on Thursday. Northcoast Research lowered Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Finally, Evercore ISI decreased their target price on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $130.86.

Genuine Parts Trading Down 0.4 %

Shares of GPC traded down $0.47 during midday trading on Friday, hitting $116.62. 1,171,368 shares of the stock were exchanged, compared to its average volume of 1,246,656. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The firm has a market cap of $16.18 billion, a P/E ratio of 18.02 and a beta of 0.82. The stock has a fifty day simple moving average of $119.08 and a 200 day simple moving average of $120.84. Genuine Parts has a 52-week low of $104.01 and a 52-week high of $162.14.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.09. The business had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.83 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. On average, research analysts anticipate that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.53%. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. The ex-dividend date was Friday, March 7th. Genuine Parts's payout ratio is 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.