Sanibel Captiva Trust Company Inc. Boosts Stake in Genuine Parts (NYSE:GPC)

Sanibel Captiva Trust Company Inc. lifted its holdings in shares of Genuine Parts (NYSE:GPC) by 14.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,069 shares of the specialty retailer’s stock after purchasing an additional 1,150 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Genuine Parts were worth $1,059,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of GPC. Quantinno Capital Management LP increased its position in shares of Genuine Parts by 74.0% during the third quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock valued at $1,580,000 after acquiring an additional 4,809 shares during the last quarter. Miramar Capital LLC boosted its position in shares of Genuine Parts by 9.8% during the 3rd quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock worth $12,264,000 after purchasing an additional 7,845 shares during the period. Conning Inc. increased its holdings in Genuine Parts by 8.2% in the 3rd quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock valued at $36,499,000 after purchasing an additional 19,795 shares during the last quarter. WD Rutherford LLC raised its position in Genuine Parts by 4,265.9% in the third quarter. WD Rutherford LLC now owns 7,422 shares of the specialty retailer’s stock valued at $1,037,000 after purchasing an additional 7,252 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its stake in Genuine Parts by 23.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 303,676 shares of the specialty retailer’s stock worth $42,417,000 after purchasing an additional 56,776 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the sale, the director now owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.37% of the stock is owned by company insiders.

Genuine Parts Trading Down 0.8 %

NYSE GPC opened at $118.43 on Friday. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The firm has a 50 day moving average of $120.69 and a two-hundred day moving average of $130.39. The stock has a market capitalization of $16.47 billion, a PE ratio of 15.24 and a beta of 0.95. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The business had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same period last year, the company earned $2.49 EPS. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, research analysts expect that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.38%. The ex-dividend date was Friday, December 6th. Genuine Parts’s payout ratio is 51.48%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a report on Monday, November 11th. UBS Group cut their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Truist Financial lowered their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Loop Capital assumed coverage on shares of Genuine Parts in a research note on Thursday. They set a “buy” rating and a $155.00 target price on the stock. Finally, StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Eight 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $141.50.

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.