Cambridge Trust Co. Has $1.31 Million Holdings in Genuine Parts (NYSE:GPC)

Cambridge Trust Co. decreased its position in Genuine Parts (NYSE:GPC) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,428 shares of the specialty retailer’s stock after selling 265 shares during the period. Cambridge Trust Co.’s holdings in Genuine Parts were worth $1,306,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of GPC. Imprint Wealth LLC boosted its position in shares of Genuine Parts by 16,507.5% during the 2nd quarter. Imprint Wealth LLC now owns 2,611,194 shares of the specialty retailer’s stock valued at $261,119,000 after purchasing an additional 2,595,471 shares in the last quarter. Norges Bank bought a new position in shares of Genuine Parts during the 4th quarter worth approximately $239,384,000. Invesco Ltd. boosted its holdings in shares of Genuine Parts by 71.1% during the 3rd quarter. Invesco Ltd. now owns 2,590,036 shares of the specialty retailer’s stock worth $373,949,000 after buying an additional 1,076,361 shares in the last quarter. Capital World Investors bought a new stake in shares of Genuine Parts in the 1st quarter valued at $124,130,000. Finally, International Assets Investment Management LLC lifted its position in shares of Genuine Parts by 15,175.4% during the 4th quarter. International Assets Investment Management LLC now owns 713,056 shares of the specialty retailer’s stock valued at $98,758,000 after acquiring an additional 708,388 shares during the period. Institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GPC shares. Evercore ISI reduced their price target on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a report on Tuesday. Truist Financial restated a “buy” rating and issued a $167.00 target price on shares of Genuine Parts in a research note on Friday, April 12th. Wedbush reaffirmed a “neutral” rating and set a $140.00 price target on shares of Genuine Parts in a research note on Friday, February 16th. Finally, StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $168.33.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the completion of the sale, the director now directly owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.37% of the company’s stock.

Genuine Parts Stock Up 11.2 %

GPC stock opened at $160.23 on Friday. The stock’s 50 day moving average is $149.92 and its 200-day moving average is $142.22. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $174.91. The firm has a market capitalization of $22.34 billion, a PE ratio of 17.17 and a beta of 0.94. The company has a quick ratio of 0.63, a current ratio of 1.23 and a debt-to-equity ratio of 0.80.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. The firm had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a net margin of 5.70% and a return on equity of 31.64%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.14 EPS. Sell-side analysts expect that Genuine Parts will post 9.66 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a dividend of $1.00 per share. The ex-dividend date was Thursday, February 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.50%. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s dividend payout ratio (DPR) is currently 42.87%.

Genuine Parts Company 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.