PNC Financial Services Group Inc. Sells 21,444 Shares of Genuine Parts (NYSE:GPC)

PNC Financial Services Group Inc. trimmed its position in Genuine Parts (NYSE:GPC - Free Report) by 18.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 92,935 shares of the specialty retailer's stock after selling 21,444 shares during the quarter. PNC Financial Services Group Inc. owned 0.07% of Genuine Parts worth $10,851,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in GPC. Ashton Thomas Securities LLC purchased a new stake in Genuine Parts in the third quarter worth about $26,000. Kestra Investment Management LLC bought a new stake in shares of Genuine Parts in the 4th quarter valued at about $28,000. First Command Advisory Services Inc. purchased a new stake in shares of Genuine Parts in the 4th quarter worth approximately $28,000. Compass Planning Associates Inc bought a new position in shares of Genuine Parts during the fourth quarter valued at approximately $29,000. Finally, Capital Performance Advisors LLP purchased a new position in Genuine Parts during the third quarter valued at approximately $31,000. Institutional investors own 78.83% of the company's stock.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $123.74 on Wednesday. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The company has a market cap of $17.17 billion, a PE ratio of 19.13 and a beta of 0.93. The business has a 50-day simple moving average of $120.15 and a two-hundred day simple moving average of $125.76.

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Genuine Parts (NYSE:GPC - Get Free Report) last released its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $5.71 billion. During the same period last year, the business earned $2.26 EPS. As a group, equities analysts expect that Genuine Parts will post 7.9 EPS for the current fiscal 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 given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.33%. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts's dividend payout ratio is presently 63.68%.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the business's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the sale, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Truist Financial upped their target price on Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Evercore ISI dropped their price objective on 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. Northcoast Research lowered Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. 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 target for the company. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target 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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