US Bancorp DE Has $4.39 Million Stock Position in Genuine Parts (NYSE:GPC)

US Bancorp DE trimmed its position in Genuine Parts (NYSE:GPC) by 8.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,618 shares of the specialty retailer’s stock after selling 3,299 shares during the quarter. US Bancorp DE’s holdings in Genuine Parts were worth $4,392,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Quantinno Capital Management LP grew its position in shares of Genuine Parts by 74.0% during the 3rd quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock worth $1,580,000 after buying an additional 4,809 shares during the period. Caprock Group LLC acquired a new position in shares of Genuine Parts during the 4th quarter worth about $540,000. Miramar Capital LLC grew its position in shares of Genuine Parts by 9.8% during the 3rd quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock worth $12,264,000 after buying an additional 7,845 shares during the period. Verity & Verity LLC grew its position in shares of 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 buying an additional 9,199 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of Genuine Parts during the 4th quarter worth about $21,840,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction that occurred 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 sale, 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 is available at this link. Company insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on GPC shares. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Evercore ISI cut their price objective on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Truist Financial lifted their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, Loop Capital initiated coverage on Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $137.63.

Genuine Parts Trading Up 0.7 %

NYSE GPC opened at $123.77 on Thursday. The stock has a market capitalization of $17.18 billion, a price-to-earnings ratio of 19.13 and a beta of 0.94. The stock’s 50 day moving average price is $119.21 and its two-hundred day moving average price is $126.29. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

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

Genuine Parts Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.33%. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio is currently 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.