First National Trust Co Sells 221 Shares of Genuine Parts (NYSE:GPC)

First National Trust Co trimmed its stake in Genuine Parts (NYSE:GPC) by 1.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,733 shares of the specialty retailer’s stock after selling 221 shares during the period. First National Trust Co’s holdings in Genuine Parts were worth $2,733,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of GPC. Axxcess Wealth Management LLC increased its position in shares of Genuine Parts by 5.0% during 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 during the period. Financial Counselors Inc. increased its holdings in Genuine Parts by 0.3% during the third quarter. Financial Counselors Inc. now owns 22,476 shares of the specialty retailer’s stock valued at $3,245,000 after buying an additional 76 shares during the period. Balentine LLC increased its holdings in Genuine Parts by 2.2% during the third quarter. Balentine LLC now owns 3,550 shares of the specialty retailer’s stock valued at $513,000 after buying an additional 76 shares during the period. Grimes & Company Inc. increased its holdings in Genuine Parts by 2.5% during the fourth quarter. Grimes & Company Inc. now owns 3,178 shares of the specialty retailer’s stock valued at $440,000 after buying an additional 79 shares during the period. Finally, Fiera Capital Corp increased its holdings in Genuine Parts by 2.7% during the third quarter. Fiera Capital Corp now owns 3,080 shares of the specialty retailer’s stock valued at $445,000 after buying an additional 80 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the company’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 completion of the transaction, the director now owns 14,397 shares in the company, valued at $2,230,383.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.37% of the company’s stock.

Genuine Parts Stock Performance

Shares of GPC traded up $1.09 during trading hours on Friday, reaching $157.41. 670,520 shares of the company traded hands, compared to its average volume of 1,304,451. The stock has a market capitalization of $21.93 billion, a P/E ratio of 17.55 and a beta of 0.94. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $174.91. The business has a fifty day moving average price of $153.39 and a 200-day moving average price of $143.33.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, beating the consensus estimate of $2.15 by $0.07. The company had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The firm’s revenue was up .3% on a year-over-year basis. During the same period in the prior year, the company earned $2.14 earnings per share. Equities 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. Shareholders of record on Friday, June 7th will be given a $1.00 dividend. The ex-dividend date is Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.54%. Genuine Parts’s dividend payout ratio (DPR) is currently 44.59%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Truist Financial lifted their price objective on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a report on Friday, April 19th. Wedbush reissued a “neutral” rating and set a $170.00 price objective (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Evercore ISI cut their price target on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Finally, Jefferies Financial Group lifted their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $173.10.

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.