Genuine Parts (NYSE:GPC) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. lessened its stake in shares of Genuine Parts (NYSE:GPC) by 2.2% during the fourth quarter, HoldingsChannel reports. The firm owned 7,449 shares of the specialty retailer’s stock after selling 170 shares during the period. Securian Asset Management Inc.’s holdings in Genuine Parts were worth $870,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kestra Investment Management LLC acquired a new position in shares of Genuine Parts in the fourth quarter worth about $28,000. First Command Advisory Services Inc. acquired a new position in shares of Genuine Parts in the fourth quarter worth about $28,000. Compass Planning Associates Inc acquired a new position in shares of Genuine Parts in the fourth quarter worth about $29,000. Synergy Asset Management LLC acquired a new position in shares of Genuine Parts in the fourth quarter worth about $32,000. Finally, OFI Invest Asset Management acquired a new position in shares of Genuine Parts in the fourth quarter worth about $34,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Evercore ISI cut their price target on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Loop Capital assumed coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target on the stock. Truist Financial boosted their price target 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, Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a research note 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $137.63.

Genuine Parts Trading Up 2.3 %

Shares of NYSE GPC opened at $122.16 on Friday. The stock has a market capitalization of $16.95 billion, a P/E ratio of 18.88 and a beta of 0.93. The stock’s 50 day moving average price is $120.41 and its two-hundred day moving average price is $125.42. 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.

Genuine Parts (NYSE:GPC) last posted 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 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 in the prior year, the company earned $2.26 earnings per share. On average, analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be issued a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a dividend yield of 3.37%. Genuine Parts’s dividend payout ratio is 63.68%.

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.