Grove Bank & Trust Cuts Position in Genuine Parts (NYSE:GPC)

Grove Bank & Trust lessened its position in shares of Genuine Parts (NYSE:GPC) by 26.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 442 shares of the specialty retailer’s stock after selling 158 shares during the quarter. Grove Bank & Trust’s holdings in Genuine Parts were worth $61,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Genuine Parts by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,056 shares of the specialty retailer’s stock worth $2,401,000 after purchasing an additional 1,180 shares during the period. Cibc World Market Inc. boosted its holdings in shares of Genuine Parts by 14.8% in the 1st quarter. Cibc World Market Inc. now owns 2,740 shares of the specialty retailer’s stock worth $345,000 after purchasing an additional 354 shares during the period. Sei Investments Co. boosted its holdings in shares of Genuine Parts by 9.4% in the 1st quarter. Sei Investments Co. now owns 50,928 shares of the specialty retailer’s stock worth $6,448,000 after purchasing an additional 4,372 shares during the period. Aviva PLC boosted its holdings in shares of Genuine Parts by 63.1% in the 1st quarter. Aviva PLC now owns 78,951 shares of the specialty retailer’s stock worth $9,949,000 after purchasing an additional 30,545 shares during the period. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Genuine Parts by 195.1% in the 1st quarter. Allianz Asset Management GmbH now owns 114,328 shares of the specialty retailer’s stock worth $14,408,000 after purchasing an additional 75,591 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the transaction, the director now directly owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Truist Financial reiterated a “buy” rating and issued a $167.00 target price on shares of Genuine Parts in a report on Friday. Wedbush restated a “neutral” rating and set a $140.00 price objective on shares of Genuine Parts in a report on Friday, February 16th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Finally, Evercore ISI boosted their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Genuine Parts has an average rating of “Moderate Buy” and a consensus price target of $168.89.

Genuine Parts Trading Down 0.4 %

Shares of NYSE GPC opened at $144.80 on Tuesday. The company has a quick ratio of 0.63, a current ratio of 1.23 and a debt-to-equity ratio of 0.80. The business has a fifty day simple moving average of $149.47 and a two-hundred day simple moving average of $142.08. The firm has a market cap of $20.19 billion, a PE ratio of 15.52 and a beta of 0.94. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $174.91.

Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, February 15th. The specialty retailer reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.06. The business had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.64 billion. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. Genuine Parts’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.05 EPS. Analysts expect that Genuine Parts will post 9.76 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. Stockholders of record on Friday, March 1st were given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.76%. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, February 29th. Genuine Parts’s payout ratio is presently 42.87%.

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.