Genuine Parts (NYSE:GPC) Shares Sold by APG Asset Management N.V.

APG Asset Management N.V. reduced its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 66.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 101,200 shares of the specialty retailer's stock after selling 197,311 shares during the quarter. APG Asset Management N.V. owned about 0.07% of Genuine Parts worth $11,411,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Hartford Financial Management Inc. lifted its position in Genuine Parts by 0.5% in the fourth quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer's stock worth $2,185,000 after buying an additional 99 shares during the last quarter. New York Life Investment Management LLC raised its position in Genuine Parts by 0.6% in the 4th quarter. New York Life Investment Management LLC now owns 18,743 shares of the specialty retailer's stock worth $2,188,000 after purchasing an additional 108 shares during the period. Grimes & Company Inc. grew its stake in shares of Genuine Parts by 3.3% during the fourth quarter. Grimes & Company Inc. now owns 3,494 shares of the specialty retailer's stock valued at $408,000 after buying an additional 111 shares during the last quarter. Pinnacle Financial Partners Inc increased its stake in Genuine Parts by 2.5% in the fourth quarter. Pinnacle Financial Partners Inc now owns 4,630 shares of the specialty retailer's stock worth $541,000 after purchasing an additional 115 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its stake in Genuine Parts by 1.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 7,512 shares of the specialty retailer's stock worth $877,000 after buying an additional 128 shares during the period. 78.83% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GPC shares. Truist Financial raised their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. The Goldman Sachs Group reiterated a "sell" rating and issued a $114.00 target price (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Evercore ISI raised shares of Genuine Parts from an "in-line" rating to an "outperform" rating and raised their target price for the company from $128.00 to $135.00 in a research report on Friday, April 4th. Loop Capital began coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a "buy" rating and a $155.00 price objective for the company. Finally, Northcoast Research downgraded shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $135.88.

Genuine Parts Price Performance

GPC traded down $1.87 during trading on Tuesday, hitting $114.37. The company's stock had a trading volume of 522,939 shares, compared to its average volume of 1,255,691. The firm has a market capitalization of $15.87 billion, a price-to-earnings ratio of 17.68 and a beta of 0.82. The business's fifty day simple moving average is $120.23 and its 200 day simple moving average is $121.91. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. Genuine Parts has a twelve month low of $104.01 and a twelve month high of $164.45.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating 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 firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the prior year, the company earned $2.26 EPS. On average, equities research analysts forecast that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th were issued a $1.03 dividend. This is a boost from Genuine Parts's previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 3.60%. The ex-dividend date was Friday, March 7th. Genuine Parts's dividend payout ratio is presently 63.68%.

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.