National Pension Service Trims Holdings in Genuine Parts (NYSE:GPC)

National Pension Service cut its holdings in Genuine Parts (NYSE:GPC - Free Report) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 218,702 shares of the specialty retailer's stock after selling 5,307 shares during the quarter. National Pension Service owned about 0.16% of Genuine Parts worth $25,536,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC purchased a new position in shares of Genuine Parts in the third quarter worth about $26,000. Kestra Investment Management LLC purchased a new position in shares of Genuine Parts in the fourth quarter worth about $28,000. Compass Planning Associates Inc purchased a new position in shares of Genuine Parts in the fourth quarter worth about $29,000. Capital Performance Advisors LLP purchased a new position in shares of Genuine Parts in the third quarter worth about $31,000. Finally, Synergy Asset Management LLC purchased a new position in shares of Genuine Parts in the fourth quarter worth about $32,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Price Performance

GPC traded up $0.90 during trading on Wednesday, hitting $123.77. The company's stock had a trading volume of 1,528,449 shares, compared to its average volume of 1,125,832. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The business's fifty day simple moving average is $119.21 and its 200 day simple moving average is $126.29. The firm has a market capitalization of $17.18 billion, a price-to-earnings ratio of 19.13 and a beta of 0.94.

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Genuine Parts (NYSE:GPC - Get Free Report) last issued 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 company had revenue of $5.77 billion for 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 period last year, the company earned $2.26 earnings per share. On average, equities research analysts forecast that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be paid a $1.03 dividend. The ex-dividend date is Friday, March 7th. This is a positive change 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 3.33%. Genuine Parts's payout ratio is currently 63.68%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. 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. Redburn Atlantic upgraded Genuine Parts to a "hold" rating in a research report on Monday, November 11th. Truist Financial lifted 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 cut Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. Finally, Loop Capital assumed coverage on Genuine Parts in a research report on Thursday, January 16th. They set a "buy" rating and a $155.00 price target for the company. Eight analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $137.63.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction that occurred 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 sale, the director now directly owns 11,357 shares of the company's stock, valued at $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.37% of the company's stock.

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.