Mechanics Financial Corp Reduces Holdings in Genuine Parts (NYSE:GPC)

Mechanics Financial Corp lowered its position in Genuine Parts (NYSE:GPC) by 3.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,428 shares of the specialty retailer’s stock after selling 98 shares during the period. Mechanics Financial Corp’s holdings in Genuine Parts were worth $283,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Millstone Evans Group LLC purchased a new position in shares of Genuine Parts in the fourth quarter worth about $25,000. Kestra Investment Management LLC acquired a new stake in Genuine Parts in the 4th quarter valued at about $28,000. First Command Advisory Services Inc. purchased a new position in Genuine Parts in the 4th quarter worth approximately $28,000. Compass Planning Associates Inc acquired a new position in shares of Genuine Parts during the 4th quarter worth approximately $29,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Genuine Parts in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Performance

NYSE:GPC opened at $118.49 on Friday. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two 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 company has a 50 day moving average price of $121.13 and a 200 day moving average price of $124.15. The stock has a market capitalization of $16.44 billion, a P/E ratio of 18.31 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping the consensus estimate of $1.54 by $0.07. The business had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same period last year, the business posted $2.26 earnings per share. Equities research analysts forecast that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. The ex-dividend date is Friday, March 7th. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a yield of 3.48%. Genuine Parts’s dividend payout ratio is 63.68%.

Analyst Ratings Changes

GPC has been the topic of a number of recent research reports. Loop Capital began coverage on Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective on the stock. Truist Financial boosted their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Finally, Evercore ISI reduced their target price on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Genuine Parts presently has a consensus rating of “Hold” and a consensus target price of $137.63.

Genuine Parts Company 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.