US Bancorp DE Has $4.39 Million Holdings in Genuine Parts (NYSE:GPC)

US Bancorp DE reduced its holdings in Genuine Parts (NYSE:GPC - Free Report) by 8.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 37,618 shares of the specialty retailer's stock after selling 3,299 shares during the quarter. US Bancorp DE's holdings in Genuine Parts were worth $4,392,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in GPC. Farther Finance Advisors LLC raised its stake in shares of Genuine Parts by 90.6% in the third quarter. Farther Finance Advisors LLC now owns 3,300 shares of the specialty retailer's stock valued at $461,000 after acquiring an additional 1,569 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Genuine Parts by 11.0% in the third quarter. Van ECK Associates Corp now owns 23,057 shares of the specialty retailer's stock valued at $3,221,000 after acquiring an additional 2,286 shares during the last quarter. QRG Capital Management Inc. raised its stake in shares of Genuine Parts by 7.9% in the third quarter. QRG Capital Management Inc. now owns 15,261 shares of the specialty retailer's stock valued at $2,132,000 after acquiring an additional 1,120 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of Genuine Parts in the third quarter valued at approximately $44,000. Finally, FSM Wealth Advisors LLC bought a new position in shares of Genuine Parts in the third quarter valued at approximately $226,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the business's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the transaction, the director now owns 11,357 shares of the company's stock, valued at $1,371,698.46. The trade was a 12.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.37% of the company's stock.

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Wall Street Analysts Forecast Growth

GPC has been the subject of a number of research analyst reports. Evercore ISI cut their target price on shares of 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. Northcoast Research cut shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Truist Financial boosted their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Loop Capital began coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They issued a "buy" rating and a $155.00 price objective for the company. Finally, Redburn Atlantic upgraded shares of Genuine Parts to a "hold" rating in a research report on Monday, November 11th. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $137.63.

Genuine Parts Trading Up 1.2 %

Shares of Genuine Parts stock traded up $1.48 on Friday, hitting $127.41. 1,428,411 shares of the company's stock traded hands, compared to its average volume of 1,127,657. The firm's 50-day moving average price is $119.74 and its two-hundred day moving average price is $126.10. The stock has a market capitalization of $17.68 billion, a PE ratio of 19.69 and a beta of 0.93. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its earnings results 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 during 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 in the previous year, the company posted $2.26 EPS. On average, research analysts expect that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be given a dividend of $1.03 per share. This is a boost from Genuine Parts's previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. This represents a $4.12 annualized dividend and a dividend yield of 3.23%. Genuine Parts's payout ratio is presently 63.68%.

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.