US Bancorp DE Has $4.39 Million Position in Genuine Parts (NYSE:GPC)

US Bancorp DE cut its holdings in shares of Genuine Parts (NYSE:GPC) by 8.1% during the fourth quarter, Holdings Channel reports. The fund owned 37,618 shares of the specialty retailer’s stock after selling 3,299 shares during the quarter. US Bancorp DE’s holdings in Genuine Parts were worth $4,392,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Fisher Asset Management LLC increased its holdings in shares of Genuine Parts by 8.7% during the 4th quarter. Fisher Asset Management LLC now owns 1,915 shares of the specialty retailer’s stock worth $224,000 after acquiring an additional 153 shares during the last quarter. SVB Wealth LLC acquired a new position in Genuine Parts in the 4th quarter valued at $422,000. Flputnam Investment Management Co. grew its holdings in Genuine Parts by 12.0% in the 4th quarter. Flputnam Investment Management Co. now owns 9,662 shares of the specialty retailer’s stock valued at $1,128,000 after buying an additional 1,036 shares in the last quarter. Argyle Capital Management LLC grew its holdings in Genuine Parts by 4.7% in the 4th quarter. Argyle Capital Management LLC now owns 28,261 shares of the specialty retailer’s stock valued at $3,300,000 after buying an additional 1,263 shares in the last quarter. Finally, Versor Investments LP acquired a new position in Genuine Parts in the 4th quarter valued at $759,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

GPC opened at $123.77 on Thursday. The firm has a market cap of $17.18 billion, a P/E ratio of 19.13 and a beta of 0.94. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The business’s fifty day moving average is $119.21 and its 200-day moving average is $126.29.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the prior year, the company earned $2.26 EPS. Sell-side analysts expect that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be given a dividend of $1.03 per share. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts’s dividend payout ratio is currently 63.68%.

Analysts Set New Price Targets

GPC has been the topic of a number of research reports. Redburn Atlantic raised Genuine Parts to a “hold” rating in a report on Monday, November 11th. Truist Financial upped their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Evercore ISI decreased their price objective on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Finally, Loop Capital initiated coverage on Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $137.63.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the transaction, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.37% of the stock is owned by corporate 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.