Vanguard Group Inc. Decreases Stock Holdings in Genuine Parts (NYSE:GPC)

Vanguard Group Inc. lowered its position in Genuine Parts (NYSE:GPC - Free Report) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,007,390 shares of the specialty retailer's stock after selling 74,951 shares during the period. Vanguard Group Inc. owned approximately 12.23% of Genuine Parts worth $1,985,783,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GPC. Hartford Financial Management Inc. grew its holdings in Genuine Parts by 0.5% in the fourth quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer's stock valued at $2,185,000 after purchasing an additional 99 shares during the last quarter. New York Life Investment Management LLC grew its stake in Genuine Parts by 0.6% in the 4th quarter. New York Life Investment Management LLC now owns 18,743 shares of the specialty retailer's stock valued at $2,188,000 after acquiring an additional 108 shares during the last quarter. Grimes & Company Inc. increased its holdings in Genuine Parts by 3.3% during the 4th quarter. Grimes & Company Inc. now owns 3,494 shares of the specialty retailer's stock valued at $408,000 after acquiring an additional 111 shares in the last quarter. Townsquare Capital LLC raised its position in Genuine Parts by 0.4% during the third quarter. Townsquare Capital LLC now owns 27,881 shares of the specialty retailer's stock worth $3,894,000 after acquiring an additional 115 shares during the last quarter. Finally, Pinnacle Financial Partners Inc grew its position in shares of Genuine Parts by 2.5% in the fourth quarter. Pinnacle Financial Partners Inc now owns 4,630 shares of the specialty retailer's stock valued at $541,000 after purchasing an additional 115 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

GPC has been the topic of a number of recent research reports. Loop Capital assumed coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a "buy" rating and a $155.00 target price on the stock. Truist Financial upped their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a research 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 for the company in a research report on Wednesday, February 19th. Finally, Northcoast Research lowered shares of Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Eight investment 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 company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $137.63.

Genuine Parts Trading Up 0.7 %

Shares of GPC stock traded up $0.80 during trading hours on Monday, hitting $119.27. 1,109,938 shares of the company were exchanged, compared to its average volume of 1,213,077. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The firm has a fifty day moving average of $121.14 and a 200 day moving average of $123.88. The firm has a market cap of $16.55 billion, a PE ratio of 18.43 and a beta of 0.93. 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 (NYSE:GPC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 3.85% and a return on equity of 25.28%. During the same quarter last year, the business earned $2.26 EPS. Analysts expect that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently declared 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 represents a $4.12 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Friday, March 7th. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's payout ratio is 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.