Genuine Parts (NYSE:GPC) Shares Sold by Cerity Partners LLC

Cerity Partners LLC decreased its position in Genuine Parts (NYSE:GPC - Free Report) by 37.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,025 shares of the specialty retailer's stock after selling 73,928 shares during the period. Cerity Partners LLC owned 0.09% of Genuine Parts worth $14,768,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Quantinno Capital Management LP increased its stake in Genuine Parts by 74.0% during the third quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer's stock worth $1,580,000 after acquiring an additional 4,809 shares during the last quarter. Caprock Group LLC acquired a new stake in shares of Genuine Parts during the 4th quarter worth about $540,000. Verity & Verity LLC raised its holdings in Genuine Parts by 9.7% in the 4th quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer's stock valued at $12,198,000 after buying an additional 9,199 shares during the period. Proficio Capital Partners LLC acquired a new position in Genuine Parts in the fourth quarter valued at about $21,840,000. Finally, JPMorgan Chase & Co. boosted its stake in Genuine Parts by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer's stock worth $257,124,000 after buying an additional 114,180 shares during the period. Institutional investors and hedge funds own 78.83% of the company's stock.

Wall Street Analyst Weigh In

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

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Genuine Parts Stock Down 0.4 %

Shares of NYSE:GPC traded down $0.47 during trading on Tuesday, hitting $115.76. 268,325 shares of the company were exchanged, compared to its average volume of 1,252,555. The firm's 50 day moving average price is $120.23 and its 200-day moving average price is $121.91. Genuine Parts has a 12-month low of $104.01 and a 12-month high of $164.45. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The stock has a market capitalization of $16.07 billion, a P/E ratio of 17.90 and a beta of 0.82.

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

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th were issued a $1.03 dividend. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend 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.