Genuine Parts (NYSE:GPC) Shares Sold by Rodgers Brothers Inc.

Rodgers Brothers Inc. cut its holdings in Genuine Parts (NYSE:GPC - Free Report) by 31.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,004 shares of the specialty retailer's stock after selling 12,200 shares during the period. Rodgers Brothers Inc.'s holdings in Genuine Parts were worth $3,036,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GPC. Summit Financial LLC purchased a new position in Genuine Parts during the fourth quarter valued at $286,000. Alliancebernstein L.P. lifted its stake in shares of Genuine Parts by 5.3% in the 4th quarter. Alliancebernstein L.P. now owns 165,453 shares of the specialty retailer's stock valued at $19,318,000 after purchasing an additional 8,358 shares during the last quarter. Wellington Management Group LLP boosted its stake in Genuine Parts by 30.3% during the fourth quarter. Wellington Management Group LLP now owns 29,717 shares of the specialty retailer's stock worth $3,470,000 after buying an additional 6,916 shares during the period. RWA Wealth Partners LLC boosted its stake in shares of Genuine Parts by 13.7% during the 4th quarter. RWA Wealth Partners LLC now owns 2,751 shares of the specialty retailer's stock worth $321,000 after purchasing an additional 332 shares during the period. Finally, Schroder Investment Management Group grew its holdings in Genuine Parts by 13.0% during the 4th quarter. Schroder Investment Management Group now owns 11,105 shares of the specialty retailer's stock valued at $1,286,000 after purchasing an additional 1,274 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

GPC has been the subject of several recent analyst reports. Loop Capital assumed coverage on Genuine Parts in a research report on Thursday, January 16th. They set a "buy" rating and a $155.00 target price for the company. Northcoast Research downgraded Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. Truist Financial lifted their target price on Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Evercore ISI boosted their target price on shares of Genuine Parts from $125.00 to $128.00 and gave the company an "in-line" rating in a research note on Tuesday. Finally, The Goldman Sachs Group restated a "sell" rating and issued a $114.00 target price (down from $133.00) on shares of Genuine Parts in a research note on Tuesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Genuine Parts has an average rating of "Hold" and an average target price of $135.00.

Genuine Parts Stock Up 1.5 %

Shares of NYSE GPC traded up $1.72 during midday trading on Wednesday, reaching $120.17. 1,078,396 shares of the company's stock traded hands, compared to its average volume of 1,215,746. The company has a market cap of $16.68 billion, a price-to-earnings ratio of 18.57 and a beta of 0.93. The stock's 50 day simple moving average is $121.11 and its 200-day simple moving average is $123.75. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. Genuine Parts has a one year low of $112.74 and a one year high of $164.45.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.07. The business had revenue of $5.77 billion for the quarter, compared to analysts' expectations of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same quarter last year, the firm earned $2.26 EPS. On average, analysts predict 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. Shareholders of record on Friday, March 7th will be issued a $1.03 dividend. The ex-dividend date is Friday, March 7th. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a yield of 3.43%. Genuine Parts's payout ratio 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.