Motco Sells 393 Shares of Genuine Parts (NYSE:GPC)

Motco lowered its position in Genuine Parts (NYSE:GPC) by 1.1% during the 4th quarter, HoldingsChannel reports. The firm owned 34,207 shares of the specialty retailer’s stock after selling 393 shares during the period. Motco’s holdings in Genuine Parts were worth $3,994,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp increased its stake in Genuine Parts by 5.4% in the 3rd quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock worth $1,103,300,000 after acquiring an additional 401,180 shares during the last quarter. Geode Capital Management LLC raised its stake in Genuine Parts by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer’s stock valued at $458,947,000 after purchasing an additional 32,858 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Genuine Parts by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,743,970 shares of the specialty retailer’s stock worth $383,511,000 after buying an additional 30,354 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Genuine Parts by 1.2% in the 3rd quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer’s stock worth $287,405,000 after buying an additional 25,015 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Genuine Parts by 6.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer’s stock valued at $257,124,000 after buying an additional 114,180 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Evercore ISI reduced their price objective on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Truist Financial upped their target price on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, Loop Capital assumed coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective for the company. Eight analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $137.63.

Genuine Parts Trading Up 0.7 %

NYSE:GPC opened at $122.95 on Friday. The firm has a market capitalization of $17.06 billion, a P/E ratio of 19.00 and a beta of 0.94. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The company has a fifty day moving average of $118.76 and a 200 day moving average of $126.72.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data 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 firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same period in the prior year, the firm posted $2.26 earnings per share. On average, research analysts predict that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be given a $1.03 dividend. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Friday, March 7th. Genuine Parts’s dividend payout ratio (DPR) is currently 63.68%.

Insider Activity

In related news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts 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 sale, the director now owns 11,357 shares in the company, valued at $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.37% of the company’s stock.

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.