TIAA Trust National Association Lowers Stock Position in Genuine Parts (NYSE:GPC)

TIAA Trust National Association trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 7.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,221 shares of the specialty retailer’s stock after selling 166 shares during the period. TIAA Trust National Association’s holdings in Genuine Parts were worth $259,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Millstone Evans Group LLC acquired a new position in Genuine Parts during the fourth quarter worth $25,000. Kestra Investment Management LLC purchased a new stake in shares of Genuine Parts during the 4th quarter worth $28,000. First Command Advisory Services Inc. acquired a new position in shares of Genuine Parts during the 4th quarter worth $28,000. Compass Planning Associates Inc purchased a new position in shares of Genuine Parts in the 4th quarter valued at about $29,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Genuine Parts in the fourth quarter valued at about $32,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Stock Down 1.7 %

GPC opened at $118.49 on Friday. The business’s fifty day simple moving average is $121.13 and its 200 day simple moving average is $124.15. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The firm has a market cap of $16.44 billion, a P/E ratio of 18.31 and a beta of 0.93. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 3.85% and a return on equity of 25.28%. During the same quarter in the previous year, the business posted $2.26 earnings per share. As a group, equities research analysts anticipate that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

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

Analyst Ratings Changes

Several brokerages have weighed in on GPC. 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 target price on the stock. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Truist Financial raised their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Evercore ISI decreased their target price on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Eight 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $137.63.

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.