Twin Tree Management LP reduced its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 88.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 697 shares of the specialty retailer's stock after selling 5,345 shares during the quarter. Twin Tree Management LP's holdings in Genuine Parts were worth $81,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in GPC. Kestra Investment Management LLC purchased a new stake in Genuine Parts in the fourth quarter valued at about $28,000. First Command Advisory Services Inc. purchased a new stake in Genuine Parts in the fourth quarter valued at about $28,000. Compass Planning Associates Inc purchased a new stake in Genuine Parts in the fourth quarter valued at about $29,000. Synergy Asset Management LLC purchased a new stake in Genuine Parts in the fourth quarter valued at about $32,000. Finally, OFI Invest Asset Management purchased a new stake in Genuine Parts in the fourth quarter valued at about $34,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.
Genuine Parts Stock Performance
Genuine Parts stock traded down $1.82 during midday trading on Friday, hitting $118.93. 3,064,471 shares of the company were exchanged, compared to its average volume of 1,150,171. The firm has a market capitalization of $16.50 billion, a PE ratio of 18.38 and a beta of 0.93. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The business has a fifty day simple moving average of $120.99 and a two-hundred day simple moving average of $124.70. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16.
Genuine Parts (NYSE:GPC - Get Free Report) last posted its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping the consensus estimate of $1.54 by $0.07. The firm 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, sell-side analysts forecast that Genuine Parts will post 7.9 earnings per share for the current year.
Genuine Parts Increases Dividend
The business 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 dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.46%. This is a positive change from Genuine Parts's previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. Genuine Parts's dividend payout ratio (DPR) is 63.68%.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on GPC shares. Northcoast Research cut Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Loop Capital began coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a "buy" rating and a $155.00 price objective for the company. Evercore ISI reduced their price objective on Genuine Parts from $128.00 to $125.00 and set an "in-line" rating for the company in a research note on Wednesday, February 19th. Finally, Truist Financial raised their price objective on Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Eight 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $137.63.
Read Our Latest Research Report on Genuine Parts
About Genuine Parts
(
Free Report)
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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