Howe & Rusling Inc. Sells 4,276 Shares of Genuine Parts (NYSE:GPC)

Howe & Rusling Inc. lowered its position in Genuine Parts (NYSE:GPC - Free Report) by 9.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,078 shares of the specialty retailer's stock after selling 4,276 shares during the quarter. Howe & Rusling Inc.'s holdings in Genuine Parts were worth $4,913,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hartford Financial Management Inc. boosted its position in Genuine Parts by 0.5% during the 4th 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 period. New York Life Investment Management LLC raised its stake in shares of Genuine Parts by 0.6% during the fourth quarter. New York Life Investment Management LLC now owns 18,743 shares of the specialty retailer's stock valued at $2,188,000 after acquiring an additional 108 shares during the last quarter. Grimes & Company Inc. lifted its holdings 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 worth $408,000 after purchasing an additional 111 shares during the period. Townsquare Capital LLC grew its stake in shares of Genuine Parts by 0.4% in the third quarter. Townsquare Capital LLC now owns 27,881 shares of the specialty retailer's stock worth $3,894,000 after purchasing an additional 115 shares during the last quarter. Finally, Pinnacle Financial Partners Inc increased its holdings 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 valued at $541,000 after purchasing an additional 115 shares during the period. Institutional investors own 78.83% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Truist Financial upped their price target on Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Northcoast Research downgraded shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. Evercore ISI dropped their price target on shares of Genuine Parts from $128.00 to $125.00 and set an "in-line" rating on the stock in a research report on Wednesday, February 19th. Finally, Loop Capital started coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a "buy" rating and a $155.00 price objective for the company. Eight 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 stock has an average rating of "Hold" and an average target price of $137.63.

Genuine Parts Stock Down 0.2 %

NYSE GPC traded down $0.26 on Monday, hitting $118.21. 272,625 shares of the company were exchanged, compared to its average volume of 1,589,272. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The company has a market cap of $16.41 billion, a PE ratio of 18.27 and a beta of 0.93. The stock has a fifty day moving average of $121.13 and a 200-day moving average of $124.00.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its earnings results 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 company had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same period last year, the business posted $2.26 EPS. As a group, analysts forecast that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be issued a $1.03 dividend. This is a boost from Genuine Parts's previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts's dividend payout ratio (DPR) is currently 63.68%.

Genuine Parts Company 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.