Genuine Parts (NYSE:GPC) Shares Sold by RNC Capital Management LLC

RNC Capital Management LLC lowered its holdings in Genuine Parts (NYSE:GPC – Get Rating) by 27.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,359 shares of the specialty retailer’s stock after selling 6,288 shares during the period. RNC Capital Management LLC’s holdings in Genuine Parts were worth $2,838,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. CVA Family Office LLC grew its holdings in shares of Genuine Parts by 5.8% during the third quarter. CVA Family Office LLC now owns 1,007 shares of the specialty retailer’s stock valued at $150,000 after purchasing an additional 55 shares during the last quarter. Quent Capital LLC grew its holdings in shares of Genuine Parts by 20.7% during the third quarter. Quent Capital LLC now owns 344 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 59 shares during the last quarter. Forum Financial Management LP grew its holdings in shares of Genuine Parts by 2.5% during the third quarter. Forum Financial Management LP now owns 2,453 shares of the specialty retailer’s stock valued at $366,000 after purchasing an additional 60 shares during the last quarter. Buckingham Strategic Wealth LLC grew its holdings in shares of Genuine Parts by 0.7% during the third quarter. Buckingham Strategic Wealth LLC now owns 8,091 shares of the specialty retailer’s stock valued at $1,208,000 after purchasing an additional 60 shares during the last quarter. Finally, Pacer Advisors Inc. grew its holdings in shares of Genuine Parts by 28.0% during the third quarter. Pacer Advisors Inc. now owns 288 shares of the specialty retailer’s stock valued at $43,000 after purchasing an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 78.14% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on GPC shares. StockNews.com started coverage on Genuine Parts in a report on Thursday. They set a “buy” rating for the company. Truist Financial upped their target price on Genuine Parts from $170.00 to $186.00 and gave the company a “hold” rating in a report on Friday, February 24th. The Goldman Sachs Group upped their target price on Genuine Parts from $147.00 to $157.00 and gave the company a “sell” rating in a report on Thursday, February 23rd. Finally, Wedbush reissued a “neutral” rating on shares of Genuine Parts in a report on Friday, February 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $152.20.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $162.07 on Friday. The stock has a fifty day moving average price of $170.16 and a two-hundred day moving average price of $169.50. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.15. The firm has a market cap of $22.82 billion, a P/E ratio of 19.50, a PEG ratio of 1.83 and a beta of 0.90. Genuine Parts has a 1 year low of $124.85 and a 1 year high of $187.73.

Genuine Parts (NYSE:GPC – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The specialty retailer reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.15. The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.33 billion. Genuine Parts had a return on equity of 32.22% and a net margin of 5.35%. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period last year, the company posted $1.79 EPS. Research analysts forecast that Genuine Parts will post 8.93 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Friday, March 3rd will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, March 2nd. This is an increase from Genuine Parts’s previous quarterly dividend of $0.90. Genuine Parts’s dividend payout ratio is 45.73%.

Genuine Parts Company Profile

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Genuine Parts Co engages in the distribution of automotive and industrial replacement parts. It operates through the following segments: Automotive Parts Group, Industrial Parts Group, and Corporate. The Automotive Parts Group segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.