Blair William & Co. IL Sells 2,115 Shares of Genuine Parts (NYSE:GPC)

Blair William & Co. IL reduced its stake in Genuine Parts (NYSE:GPC - Free Report) by 20.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,355 shares of the specialty retailer's stock after selling 2,115 shares during the quarter. Blair William & Co. IL's holdings in Genuine Parts were worth $975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Equity Investment Corp purchased a new position in shares of Genuine Parts during the 4th quarter valued at about $84,128,000. Raymond James Financial Inc. purchased a new position in shares of Genuine Parts during the fourth quarter worth approximately $57,407,000. State Street Corp lifted its holdings in shares of Genuine Parts by 5.4% in the 3rd quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer's stock worth $1,103,300,000 after acquiring an additional 401,180 shares during the last quarter. Synovus Financial Corp boosted its stake in shares of Genuine Parts by 95.4% in the 3rd quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer's stock valued at $54,708,000 after purchasing an additional 191,272 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Genuine Parts during the 4th quarter valued at $21,840,000. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GPC. The Goldman Sachs Group restated a "sell" rating and set a $114.00 price target (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Northcoast Research lowered Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. Evercore ISI upgraded Genuine Parts from an "in-line" rating to an "outperform" rating and boosted their price objective for the company from $128.00 to $135.00 in a research report on Friday. Loop Capital assumed coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a "buy" rating and a $155.00 target price on the stock. Finally, Truist Financial lifted their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Genuine Parts has an average rating of "Hold" and a consensus price target of $135.88.

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Genuine Parts Stock Down 4.4 %

Shares of NYSE:GPC traded down $4.89 during trading on Tuesday, hitting $105.45. The stock had a trading volume of 2,526,580 shares, compared to its average volume of 1,241,102. 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 has a 12 month low of $104.62 and a 12 month high of $164.45. The company has a market capitalization of $14.63 billion, a PE ratio of 16.30 and a beta of 0.82. The firm's fifty day moving average is $120.51 and its 200 day moving average is $122.80.

Genuine Parts (NYSE:GPC - Get Free Report) last announced 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. The business had revenue of $5.77 billion during 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 quarter last year, the firm posted $2.26 earnings per share. Analysts anticipate that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Friday, March 7th were paid a $1.03 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $4.12 annualized dividend and a dividend yield of 3.91%. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's dividend payout ratio is presently 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.