Twin City Private Wealth LLC Sells 599 Shares of Genuine Parts (NYSE:GPC)

Twin City Private Wealth LLC lessened its stake in shares of Genuine Parts (NYSE:GPC) by 5.0% during the 4th quarter, Holdings Channel reports. The fund owned 11,326 shares of the specialty retailer’s stock after selling 599 shares during the period. Twin City Private Wealth LLC’s holdings in Genuine Parts were worth $1,334,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp boosted its position in shares of Genuine Parts by 5.4% in the 3rd quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock worth $1,103,300,000 after purchasing an additional 401,180 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Genuine Parts by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer’s stock worth $458,947,000 after purchasing an additional 32,858 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Genuine Parts by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer’s stock worth $337,428,000 after purchasing an additional 145,960 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Genuine Parts by 1.2% in the 3rd quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer’s stock worth $287,405,000 after purchasing an additional 25,015 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Genuine Parts by 6.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer’s stock worth $257,124,000 after purchasing an additional 114,180 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 1.5 %

Shares of GPC opened at $118.93 on Monday. 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. The company has a market capitalization of $16.50 billion, a price-to-earnings ratio of 18.38 and a beta of 0.93. The stock’s 50-day moving average price is $120.99 and its 200-day moving average price is $124.58.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The firm had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the prior year, the business earned $2.26 earnings per share. On average, sell-side analysts predict that Genuine Parts will post 7.9 EPS for the current 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 paid a $1.03 dividend. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.46%. Genuine Parts’s dividend payout ratio is presently 63.68%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Truist Financial raised their price objective on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Loop Capital assumed coverage on Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price target on the stock. Finally, Evercore ISI dropped 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. Eight 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $137.63.

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.