King Luther Capital Management Corp Trims Holdings in Genuine Parts (NYSE:GPC)

King Luther Capital Management Corp decreased its position in shares of Genuine Parts (NYSE:GPC - Free Report) by 55.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,346 shares of the specialty retailer's stock after selling 5,462 shares during the quarter. King Luther Capital Management Corp's holdings in Genuine Parts were worth $507,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Morton Community Bank raised its position in Genuine Parts by 2.9% during the 4th quarter. Morton Community Bank now owns 23,366 shares of the specialty retailer's stock worth $2,728,000 after buying an additional 650 shares during the last quarter. Independent Advisor Alliance increased its stake in shares of Genuine Parts by 40.5% in the fourth quarter. Independent Advisor Alliance now owns 28,092 shares of the specialty retailer's stock worth $3,280,000 after acquiring an additional 8,098 shares during the period. Meriwether Wealth & Planning LLC purchased a new position in shares of Genuine Parts during the fourth quarter worth $219,000. Daiwa Securities Group Inc. lifted its position in Genuine Parts by 9.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 22,198 shares of the specialty retailer's stock valued at $2,592,000 after purchasing an additional 1,960 shares during the period. Finally, OFI Invest Asset Management purchased a new stake in Genuine Parts in the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 78.83% of the company's stock.

Genuine Parts Stock Down 1.7 %

Genuine Parts stock opened at $119.24 on Friday. 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 $16.55 billion, a PE ratio of 18.43 and a beta of 0.93. The business has a 50 day simple moving average of $120.24 and a 200-day simple moving average of $125.73. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45.

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Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.07. The firm had revenue of $5.77 billion for the quarter, compared to analysts' expectations of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same quarter last year, the company earned $2.26 EPS. On average, 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 will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's dividend payout ratio is 63.68%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GPC shares. Truist Financial lifted their price objective 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 price target on Genuine Parts from $128.00 to $125.00 and set an "in-line" rating for the company in a research report on Wednesday, February 19th. Loop Capital assumed coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a "buy" rating and a $155.00 price objective on the stock. Finally, Northcoast Research lowered shares of Genuine Parts from a "buy" rating to a "neutral" rating in a 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $137.63.

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.

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