Peoples Bank OH Cuts Position in Genuine Parts (NYSE:GPC)

Peoples Bank OH decreased its position in Genuine Parts (NYSE:GPC) by 25.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,780 shares of the specialty retailer’s stock after selling 957 shares during the quarter. Peoples Bank OH’s holdings in Genuine Parts were worth $431,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GPC. North Star Investment Management Corp. grew its stake in shares of Genuine Parts by 8.5% in the first quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock worth $138,000 after acquiring an additional 70 shares in the last quarter. CHICAGO TRUST Co NA grew its stake in shares of Genuine Parts by 3.6% in the first quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock worth $316,000 after acquiring an additional 71 shares in the last quarter. Axxcess Wealth Management LLC grew its stake in shares of Genuine Parts by 5.0% in the third quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock worth $223,000 after acquiring an additional 74 shares in the last quarter. Checchi Capital Advisers LLC grew its stake in shares of Genuine Parts by 2.2% in the fourth quarter. Checchi Capital Advisers LLC now owns 3,530 shares of the specialty retailer’s stock worth $489,000 after acquiring an additional 76 shares in the last quarter. Finally, Grimes & Company Inc. grew its stake in shares of Genuine Parts by 2.5% in the fourth quarter. Grimes & Company Inc. now owns 3,178 shares of the specialty retailer’s stock worth $440,000 after acquiring an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Insider Activity

In other news, Director Wendy B. Needham sold 3,000 shares of the company’s stock in a transaction dated 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 directly owns 13,006 shares of the company’s stock, valued at $1,967,677.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.37% of the company’s stock.

Genuine Parts Stock Performance

NYSE GPC traded down $1.84 during trading hours on Tuesday, hitting $131.04. The company had a trading volume of 923,720 shares, compared to its average volume of 993,826. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $170.57. The company has a market cap of $18.25 billion, a PE ratio of 14.61 and a beta of 0.92. The business has a 50 day moving average of $144.65 and a 200-day moving average of $146.32.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data 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. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the prior year, the firm posted $2.14 earnings per share. Genuine Parts’s revenue for the quarter was up .3% on a year-over-year basis. As a group, equities research analysts expect that Genuine Parts will post 9.92 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were paid a $1.00 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $4.00 annualized dividend and a yield of 3.05%. Genuine Parts’s dividend payout ratio is presently 44.59%.

Analysts Set New Price Targets

GPC has been the subject of several research reports. Truist Financial boosted their price target on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Evercore ISI lowered their target price on shares of Genuine Parts from $165.00 to $160.00 and set an “in-line” rating for the company in a research note on Tuesday, July 2nd. Wedbush reiterated 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. Jefferies Financial Group boosted their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. Finally, UBS Group lowered their target price on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Genuine Parts presently has a consensus rating of “Hold” and an average price target of $167.75.

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.