Genuine Parts (NYSE:GPC) Shares Sold by Grimes & Company Inc.

Grimes & Company Inc. lessened its holdings in Genuine Parts (NYSE:GPC) by 4.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,050 shares of the specialty retailer’s stock after selling 128 shares during the quarter. Grimes & Company Inc.’s holdings in Genuine Parts were worth $472,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. CHICAGO TRUST Co NA raised its position in Genuine Parts by 3.6% in the first quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock valued at $316,000 after purchasing an additional 71 shares during the period. Axxcess Wealth Management LLC raised its holdings in shares of Genuine Parts by 5.0% in the 3rd quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock valued at $223,000 after buying an additional 74 shares during the period. Checchi Capital Advisers LLC lifted its stake in Genuine Parts by 2.2% during the 4th quarter. Checchi Capital Advisers LLC now owns 3,530 shares of the specialty retailer’s stock worth $489,000 after acquiring an additional 76 shares in the last quarter. Brighton Jones LLC lifted its stake in Genuine Parts by 3.9% during the 4th quarter. Brighton Jones LLC now owns 2,180 shares of the specialty retailer’s stock worth $302,000 after acquiring an additional 81 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in Genuine Parts by 14.9% during the 4th quarter. Lindbrook Capital LLC now owns 648 shares of the specialty retailer’s stock valued at $90,000 after acquiring an additional 84 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Up 0.7 %

Genuine Parts stock opened at $138.32 on Friday. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $170.57. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. The stock has a market cap of $19.27 billion, a PE ratio of 15.42 and a beta of 0.92. The stock’s fifty day moving average is $148.55 and its two-hundred day moving average is $146.53.

Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.07. The business had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter last year, the company earned $2.14 EPS. On average, sell-side analysts expect that Genuine Parts will post 9.92 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Friday, June 7th. Genuine Parts’s payout ratio is 44.59%.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the sale, the director now directly owns 13,006 shares of the company’s stock, valued at $1,967,677.74. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

GPC has been the topic of several research reports. Wedbush reissued a “neutral” rating and set a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Jefferies Financial Group raised their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research report on Friday, April 19th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, May 24th. Evercore ISI increased their price objective on Genuine Parts from $160.00 to $165.00 and gave the company an “in-line” rating in a research note on Thursday, June 20th. Finally, Truist Financial boosted their target price on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $169.63.

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.