Nixon Peabody Trust Co. Increases Stake in Genuine Parts (NYSE:GPC)

Nixon Peabody Trust Co. increased its position in shares of Genuine Parts (NYSE:GPC) by 161.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,320 shares of the specialty retailer’s stock after acquiring an additional 2,670 shares during the quarter. Nixon Peabody Trust Co.’s holdings in Genuine Parts were worth $598,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Assetmark Inc. boosted its stake in Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after buying an additional 96 shares during the period. Milestone Investment Advisors LLC acquired a new position in Genuine Parts during the third quarter worth about $28,000. Authentikos Wealth Advisory LLC purchased a new position in Genuine Parts during the 3rd quarter valued at about $40,000. Orion Capital Management LLC acquired a new position in shares of Genuine Parts in the third quarter worth $42,000. Finally, Costello Asset Management INC boosted its stake in shares of Genuine Parts by 200.0% during the 4th quarter. Costello Asset Management INC now owns 300 shares of the specialty retailer’s stock worth $42,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Trading Down 0.3 %

Genuine Parts stock traded down $0.43 during midday trading on Friday, hitting $145.22. 468,588 shares of the stock were exchanged, compared to its average volume of 1,017,223. The stock has a market capitalization of $20.23 billion, a PE ratio of 16.19 and a beta of 0.94. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $170.57. 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 company has a fifty day simple moving average of $153.98 and a two-hundred day simple moving average of $145.50.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The business had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same period last year, the business posted $2.14 earnings per share. The firm’s quarterly revenue was up .3% on a year-over-year basis. Equities research analysts anticipate that Genuine Parts will post 9.92 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Friday, June 7th. Genuine Parts’s dividend payout ratio is 44.59%.

Analysts Set New Price Targets

A number of research firms have commented on GPC. Wedbush reaffirmed a “neutral” rating and set a $170.00 target price (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Evercore ISI reduced their price objective on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday. Jefferies Financial Group increased their target price on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. Finally, Truist Financial increased their price objective on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Genuine Parts currently 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 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total value of $453,870.00. Following the sale, the director now directly owns 13,006 shares in the company, valued at approximately $1,967,677.74. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Wendy B. Needham sold 3,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the sale, the director now owns 13,006 shares in the company, valued at approximately $1,967,677.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Wendy B. Needham sold 3,250 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 14,397 shares in the company, valued at $2,230,383.24. The disclosure for this sale can be found here. Company insiders own 0.37% of the company’s stock.

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.