GLOBALT Investments LLC GA Sells 1,832 Shares of Genuine Parts (NYSE:GPC)

GLOBALT Investments LLC GA lessened its holdings in shares of Genuine Parts (NYSE:GPC) by 4.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 40,338 shares of the specialty retailer’s stock after selling 1,832 shares during the period. GLOBALT Investments LLC GA’s holdings in Genuine Parts were worth $4,710,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Metis Global Partners LLC lifted its position in Genuine Parts by 1.9% in the 3rd quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock worth $625,000 after buying an additional 85 shares during the last quarter. Guardian Wealth Advisors LLC lifted its position in Genuine Parts by 2.7% in the 3rd quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock worth $484,000 after buying an additional 91 shares during the last quarter. Marco Investment Management LLC lifted its position in Genuine Parts by 1.2% in the 3rd quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock worth $1,104,000 after buying an additional 91 shares during the last quarter. Hartford Financial Management Inc. lifted its position in Genuine Parts by 0.5% in the 4th quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer’s stock worth $2,185,000 after buying an additional 99 shares during the last quarter. Finally, Citizens Financial Group Inc. RI lifted its position in Genuine Parts by 2.8% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer’s stock worth $533,000 after buying an additional 103 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of Genuine Parts stock opened at $122.16 on Monday. 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 market cap of $16.95 billion, a PE ratio of 18.88 and a beta of 0.93. The business has a 50 day moving average of $120.41 and a 200 day moving average of $125.30. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. The company had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same quarter in the prior year, the company earned $2.26 earnings per share. As a group, equities research analysts forecast that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be issued a $1.03 dividend. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a yield of 3.37%. Genuine Parts’s dividend payout ratio is 63.68%.

Wall Street Analysts Forecast Growth

GPC has been the subject of a number of recent research reports. Evercore ISI dropped their target price 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. Loop Capital began coverage on Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. Truist Financial increased their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $137.63.

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.