Midwest Professional Planners LTD. Has $357,000 Stake in Genuine Parts (NYSE:GPC)

Midwest Professional Planners LTD. decreased its position in shares of Genuine Parts (NYSE:GPC) by 68.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,054 shares of the specialty retailer’s stock after selling 6,628 shares during the period. Midwest Professional Planners LTD.’s holdings in Genuine Parts were worth $357,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GPC. Ashton Thomas Securities LLC acquired a new position in shares of Genuine Parts during the third quarter valued at about $26,000. Kestra Investment Management LLC acquired a new position in shares of Genuine Parts during the fourth quarter valued at about $28,000. First Command Advisory Services Inc. acquired a new position in shares of Genuine Parts during the fourth quarter valued at about $28,000. Compass Planning Associates Inc acquired a new position in shares of Genuine Parts during the fourth quarter valued at about $29,000. Finally, Synergy Asset Management LLC acquired a new position in shares of Genuine Parts during the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of Genuine Parts stock opened at $122.16 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $16.95 billion, a price-to-earnings ratio of 18.88 and a beta of 0.93. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The firm’s 50-day moving average price is $120.41 and its two-hundred day moving average price is $125.54.

Genuine Parts (NYSE:GPC) last issued 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. The firm had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same period in the prior year, the firm earned $2.26 earnings per share. On average, equities analysts predict that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently disclosed 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. This represents a $4.12 annualized dividend and a yield of 3.37%. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts’s dividend payout ratio is currently 63.68%.

Analyst Ratings Changes

A number of research analysts have recently commented on GPC shares. Loop Capital started coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. Evercore ISI cut their price objective on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company 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 research report on Friday, January 17th. Finally, Truist Financial increased their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $137.63.

About Genuine Parts

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.