Genuine Parts (NYSE:GPC) Position Trimmed by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 13.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,849 shares of the specialty retailer’s stock after selling 297 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Genuine Parts were worth $216,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in GPC. Ashton Thomas Securities LLC bought a new stake in Genuine Parts during the third quarter worth approximately $26,000. Kestra Investment Management LLC bought a new stake in Genuine Parts during the fourth quarter worth approximately $28,000. First Command Advisory Services Inc. bought a new stake in Genuine Parts during the fourth quarter worth approximately $28,000. Compass Planning Associates Inc purchased a new stake in shares of Genuine Parts in the 4th quarter valued at approximately $29,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Genuine Parts in the 3rd quarter valued at approximately $31,000. 78.83% of the stock is currently owned by institutional investors.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction on Friday, December 13th. The shares were 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 in the company, valued at $1,371,698.46. This represents a 12.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.42% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GPC has been the subject of several research analyst reports. Evercore ISI reduced their price target 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. Truist Financial upped their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Northcoast Research downgraded 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 issued a “buy” rating and a $155.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and a consensus target price of $137.63.

Genuine Parts Stock Down 4.1 %

GPC stock opened at $123.74 on Wednesday. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The company has a market cap of $17.17 billion, a price-to-earnings ratio of 19.13 and a beta of 0.93. The company has a 50 day moving average of $120.15 and a two-hundred day moving average of $125.76.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The company had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the prior year, the firm earned $2.26 EPS. On average, equities analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The firm 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 3.33%. Genuine Parts’s dividend 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.