Bahl & Gaynor Inc. Has $1.68 Million Stake in Genuine Parts (NYSE:GPC)

Bahl & Gaynor Inc. trimmed its stake in Genuine Parts (NYSE:GPC) by 13.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,158 shares of the specialty retailer’s stock after selling 1,856 shares during the period. Bahl & Gaynor Inc.’s holdings in Genuine Parts were worth $1,684,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GPC. SG Americas Securities LLC increased its holdings in Genuine Parts by 18.7% in the third quarter. SG Americas Securities LLC now owns 11,467 shares of the specialty retailer’s stock valued at $1,656,000 after purchasing an additional 1,809 shares during the period. DAVENPORT & Co LLC increased its holdings in Genuine Parts by 4.6% in the third quarter. DAVENPORT & Co LLC now owns 6,099 shares of the specialty retailer’s stock valued at $881,000 after purchasing an additional 269 shares during the period. Avior Wealth Management LLC increased its holdings in Genuine Parts by 51.9% in the third quarter. Avior Wealth Management LLC now owns 483 shares of the specialty retailer’s stock valued at $70,000 after purchasing an additional 165 shares during the period. Advisory Alpha LLC grew its holdings in Genuine Parts by 18.2% during the 3rd quarter. Advisory Alpha LLC now owns 1,961 shares of the specialty retailer’s stock worth $283,000 after acquiring an additional 302 shares during the period. Finally, Czech National Bank grew its holdings in Genuine Parts by 47.6% during the 3rd quarter. Czech National Bank now owns 24,545 shares of the specialty retailer’s stock worth $3,544,000 after acquiring an additional 7,910 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $159.93 on Friday. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $174.91. The stock has a market cap of $22.28 billion, a price-to-earnings ratio of 17.83 and a beta of 0.94. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. The firm’s 50-day simple moving average is $152.13 and its 200 day simple moving average is $142.98.

Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping the consensus estimate of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The firm had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter last year, the firm earned $2.14 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. As a group, research analysts anticipate that Genuine Parts will post 9.89 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date was Thursday, February 29th. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s payout ratio is 44.59%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GPC. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Truist Financial increased their price target on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Jefferies Financial Group increased their price target on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Wedbush reiterated a “neutral” rating and set a $170.00 price target (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Finally, Evercore ISI decreased their price target on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a report on Tuesday, April 16th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $173.10.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the sale, the director now owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is currently owned by insiders.

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.