Genuine Parts (NYSE:GPC) Holdings Trimmed by Private Trust Co. NA

Private Trust Co. NA lessened its stake in Genuine Parts (NYSE:GPC - Free Report) by 70.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,342 shares of the specialty retailer's stock after selling 7,939 shares during the quarter. Private Trust Co. NA's holdings in Genuine Parts were worth $390,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in Genuine Parts in the 3rd quarter worth approximately $26,000. Kestra Investment Management LLC purchased a new position in shares of Genuine Parts during the 4th quarter valued at approximately $28,000. First Command Advisory Services Inc. purchased a new position in shares of Genuine Parts during the 4th quarter valued at approximately $28,000. Compass Planning Associates Inc purchased a new position in shares of Genuine Parts during the 4th quarter valued at approximately $29,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Genuine Parts during the 3rd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 78.83% of the company's stock.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 1,608 shares of the 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 owns 11,357 shares of the company's stock, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.37% of the stock is owned by corporate insiders.

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Analyst Ratings Changes

Several research firms have recently commented on GPC. Loop Capital began coverage on Genuine Parts in a research note on Thursday, January 16th. They set a "buy" rating and a $155.00 target price for the company. Truist Financial increased their target price on Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Evercore ISI reduced their target price on Genuine Parts from $128.00 to $125.00 and set an "in-line" rating for the company in a research note on Wednesday, February 19th. Redburn Atlantic upgraded Genuine Parts to a "hold" rating in a research note on Monday, November 11th. Finally, Northcoast Research lowered Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $137.63.

Genuine Parts Stock Performance

Shares of GPC stock traded up $0.84 on Thursday, hitting $124.46. 424,998 shares of the stock traded hands, compared to its average volume of 1,121,473. Genuine Parts has a 1-year low of $112.74 and a 1-year 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 company's fifty day moving average is $119.21 and its 200 day moving average is $126.29. The company has a market capitalization of $17.27 billion, a PE ratio of 19.27 and a beta of 0.94.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share 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 firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period last year, the company earned $2.26 earnings per share. On average, equities research analysts predict that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be given a $1.03 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Genuine Parts's previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 3.31%. Genuine Parts's dividend payout ratio (DPR) is currently 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.