Genuine Parts (NYSE:GPC) Shares Sold by Simmons Bank

Simmons Bank decreased its stake in Genuine Parts (NYSE:GPC) by 9.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 14,538 shares of the specialty retailer’s stock after selling 1,513 shares during the period. Simmons Bank’s holdings in Genuine Parts were worth $2,014,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Invesco Ltd. lifted its position in Genuine Parts by 71.1% in the third quarter. Invesco Ltd. now owns 2,590,036 shares of the specialty retailer’s stock valued at $373,949,000 after acquiring an additional 1,076,361 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Genuine Parts by 15,175.4% during the fourth quarter. International Assets Investment Management LLC now owns 713,056 shares of the specialty retailer’s stock worth $98,758,000 after purchasing an additional 708,388 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Genuine Parts by 17.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,521,786 shares of the specialty retailer’s stock valued at $345,130,000 after purchasing an additional 367,665 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Genuine Parts by 23.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,633,941 shares of the specialty retailer’s stock valued at $235,916,000 after purchasing an additional 313,438 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in Genuine Parts by 19.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 892,717 shares of the specialty retailer’s stock worth $128,890,000 after buying an additional 147,674 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Performance

Shares of GPC stock traded down $1.81 during trading hours on Tuesday, reaching $154.88. 1,181,664 shares of the company’s stock were exchanged, compared to its average volume of 1,063,118. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $174.91. The company has a market cap of $21.57 billion, a P/E ratio of 17.47 and a beta of 0.94. The company’s 50 day moving average is $153.56 and its two-hundred day moving average is $143.43.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 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 firm had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter last year, the business earned $2.14 earnings per share. The business’s revenue for the quarter was up .3% compared to the same quarter last year. Equities research analysts anticipate that Genuine Parts will post 9.94 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.58%. The ex-dividend date is Friday, June 7th. Genuine Parts’s payout ratio is currently 44.59%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Evercore ISI decreased their price objective on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a report on Tuesday, April 16th. 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 raised their price target on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Truist Financial increased their price objective on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Finally, StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $173.10.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,250 shares of the business’s 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 sale, the director now directly owns 14,397 shares in the company, valued at approximately $2,230,383.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.37% of the stock is currently owned by insiders.

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.