Genuine Parts (NYSE:GPC) Position Cut by FineMark National Bank & Trust

FineMark National Bank & Trust lowered its holdings in shares of Genuine Parts (NYSE:GPC) by 5.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,615 shares of the specialty retailer’s stock after selling 164 shares during the period. FineMark National Bank & Trust’s holdings in Genuine Parts were worth $362,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GPC. Assetmark Inc. boosted its holdings in shares of Genuine Parts by 109.1% in the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 96 shares in the last quarter. Milestone Investment Advisors LLC bought a new position in Genuine Parts during the 3rd quarter valued at $28,000. Authentikos Wealth Advisory LLC bought a new position in Genuine Parts during the 3rd quarter valued at $40,000. Orion Capital Management LLC acquired a new position in shares of Genuine Parts during the 3rd quarter valued at $42,000. Finally, Costello Asset Management INC raised its stake in shares of Genuine Parts by 200.0% in the 4th quarter. Costello Asset Management INC now owns 300 shares of the specialty retailer’s stock worth $42,000 after buying an additional 200 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 0.3 %

Shares of NYSE:GPC opened at $145.22 on Friday. The firm has a 50 day simple moving average of $153.98 and a 200 day simple moving average of $145.57. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $170.57. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. The company has a market cap of $20.23 billion, a PE ratio of 16.19 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last announced its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.07. The company 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 5.46% and a return on equity of 30.92%. The company’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the business earned $2.14 EPS. As a group, research analysts expect that Genuine Parts will post 9.92 earnings per share for the current year.

Genuine Parts Dividend Announcement

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

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Wendy B. Needham sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the transaction, 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 this hyperlink. Also, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction 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 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.

Analyst Ratings Changes

Several brokerages recently weighed in 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 research note on Friday, April 19th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday. Truist Financial boosted their target price on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Evercore ISI reduced their target price 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, April 16th. Finally, Jefferies Financial Group upped their price target on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” 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 data from MarketBeat, Genuine Parts currently has an average rating of “Hold” and a consensus price target of $173.10.

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.