Genuine Parts (NYSE:GPC) Shares Sold by PGGM Investments

PGGM Investments lessened its holdings in Genuine Parts (NYSE:GPC) by 85.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,988 shares of the specialty retailer’s stock after selling 42,002 shares during the quarter. PGGM Investments’ holdings in Genuine Parts were worth $968,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Valeo Financial Advisors LLC raised its position in Genuine Parts by 3.9% during the third quarter. Valeo Financial Advisors LLC now owns 2,407 shares of the specialty retailer’s stock worth $348,000 after acquiring an additional 91 shares during the period. Toews Corp ADV purchased a new position in Genuine Parts during the third quarter worth about $794,000. Hendershot Investments Inc. raised its stake in shares of Genuine Parts by 14.8% in the 3rd quarter. Hendershot Investments Inc. now owns 73,992 shares of the specialty retailer’s stock valued at $10,683,000 after acquiring an additional 9,565 shares during the period. SVB Wealth LLC boosted its position in shares of Genuine Parts by 35.9% during the 3rd quarter. SVB Wealth LLC now owns 3,773 shares of the specialty retailer’s stock worth $545,000 after purchasing an additional 996 shares during the period. Finally, Dakota Wealth Management increased its holdings in Genuine Parts by 13.3% in the 3rd quarter. Dakota Wealth Management now owns 2,580 shares of the specialty retailer’s stock valued at $373,000 after purchasing an additional 302 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Jefferies Financial Group boosted their price objective on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. Truist Financial increased their price target on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Wedbush restated a “neutral” rating and set a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Finally, Evercore ISI dropped their target price on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $173.10.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction dated Wednesday, March 20th. The shares were 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 owns 14,397 shares in the company, valued at approximately $2,230,383.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.37% of the company’s stock.

Genuine Parts Trading Up 0.9 %

Shares of Genuine Parts stock opened at $161.32 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. The firm has a market cap of $22.47 billion, a price-to-earnings ratio of 17.98 and a beta of 0.94. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $174.91. The company’s 50-day simple moving average is $152.49 and its 200-day simple moving average is $143.02.

Genuine Parts (NYSE:GPC) last issued its earnings results 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. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The business had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the prior year, the business posted $2.14 EPS. The company’s revenue for the quarter was up .3% on a year-over-year basis. As a group, equities research analysts anticipate that Genuine Parts will post 9.89 earnings per share for the current year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a $1.00 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $4.00 dividend on an annualized basis and a yield of 2.48%. This is an increase from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

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.