Genuine Parts (NYSE:GPC) Shares Sold by TD Private Client Wealth LLC

TD Private Client Wealth LLC cut its stake in Genuine Parts (NYSE:GPC) by 20.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,843 shares of the specialty retailer’s stock after selling 467 shares during the period. TD Private Client Wealth LLC’s holdings in Genuine Parts were worth $215,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Quantinno Capital Management LP grew its position in shares of Genuine Parts by 74.0% during the third quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock worth $1,580,000 after acquiring an additional 4,809 shares during the last quarter. Caprock Group LLC acquired a new stake in Genuine Parts during the 4th quarter worth $540,000. Verity & Verity LLC grew its position in Genuine Parts by 9.7% during the 4th quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock worth $12,198,000 after purchasing an additional 9,199 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Genuine Parts in the fourth quarter valued at $21,840,000. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Genuine Parts by 23.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 303,676 shares of the specialty retailer’s stock valued at $42,417,000 after buying an additional 56,776 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on GPC shares. Evercore ISI reduced their price objective on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Truist Financial upped their price target on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research note 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, Loop Capital initiated 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. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $137.63.

Genuine Parts Trading Down 2.3 %

NYSE:GPC opened at $117.84 on Wednesday. Genuine Parts has a 1 year low of $112.74 and a 1 year 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 stock has a fifty day moving average price of $121.09 and a two-hundred day moving average price of $124.35. The stock has a market capitalization of $16.35 billion, a price-to-earnings ratio of 18.21 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) 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 the consensus estimate 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 last year, the firm posted $2.26 EPS. As a group, sell-side analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. This represents a $4.12 annualized dividend and a dividend yield of 3.50%. Genuine Parts’s payout ratio is 63.68%.

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.