Bahl & Gaynor Inc. Has $1.35 Million Position in Genuine Parts (NYSE:GPC)

Bahl & Gaynor Inc. reduced its stake in Genuine Parts (NYSE:GPC) by 1.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 11,598 shares of the specialty retailer’s stock after selling 189 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Genuine Parts were worth $1,354,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GPC. Ashton Thomas Securities LLC acquired a new position in shares of Genuine Parts during the third quarter worth approximately $26,000. Kestra Investment Management LLC acquired a new position in shares of Genuine Parts during the fourth quarter worth approximately $28,000. First Command Advisory Services Inc. acquired a new position in shares of Genuine Parts during the fourth quarter worth approximately $28,000. Compass Planning Associates Inc acquired a new position in shares of Genuine Parts during the fourth quarter worth approximately $29,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Genuine Parts during the third quarter worth approximately $31,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Price Performance

Genuine Parts stock opened at $123.00 on Wednesday. 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 firm has a market cap of $17.07 billion, a P/E ratio of 19.01 and a beta of 0.94. The business’s fifty day moving average is $119.21 and its two-hundred day moving average is $126.29. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.07. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same quarter in the previous year, the firm earned $2.26 earnings per share. Equities research analysts forecast 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 represents a $4.12 annualized dividend and a dividend yield of 3.35%. 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 is 63.68%.

Insider Activity

In other news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the transaction, the director now owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.37% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Loop Capital assumed coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target on the stock. Truist Financial upped their price target on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Evercore ISI lowered their price target 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. Finally, Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Eight analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.