Monument Capital Management Sells 109 Shares of Genuine Parts (NYSE:GPC)

Monument Capital Management trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 5.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,849 shares of the specialty retailer’s stock after selling 109 shares during the period. Monument Capital Management’s holdings in Genuine Parts were worth $286,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of GPC. Norges Bank acquired a new position in shares of Genuine Parts in the 4th quarter valued at $215,643,000. International Assets Investment Management LLC grew its holdings in Genuine Parts by 15,175.4% during the fourth quarter. International Assets Investment Management LLC now owns 713,056 shares of the specialty retailer’s stock valued at $98,758,000 after purchasing an additional 708,388 shares during the period. Stifel Financial Corp increased its stake in Genuine Parts by 27.0% in the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after purchasing an additional 431,623 shares in the last quarter. Morningstar Investment Services LLC raised its holdings in Genuine Parts by 161.2% in the fourth quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock worth $80,066,000 after purchasing an additional 357,091 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Genuine Parts by 23.7% during the third quarter. Ameriprise Financial Inc. now owns 1,633,941 shares of the specialty retailer’s stock worth $235,916,000 after purchasing an additional 313,438 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total transaction of $453,870.00. Following the transaction, the director now owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on GPC. UBS Group lowered their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday. Wedbush reaffirmed 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 lifted their price objective on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. Evercore ISI lowered their target price on Genuine Parts from $165.00 to $160.00 and set an “in-line” rating for the company in a research note on Tuesday. Finally, Truist Financial lifted their price target on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Genuine Parts currently has a consensus rating of “Hold” and an average price target of $167.75.

Genuine Parts Trading Down 1.8 %

NYSE:GPC opened at $133.50 on Thursday. The company has a market cap of $18.60 billion, a P/E ratio of 14.88 and a beta of 0.92. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $170.57. The business has a 50 day moving average price of $146.85 and a two-hundred day moving average price of $146.44. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69.

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

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Friday, June 7th. Genuine Parts’s dividend payout ratio is currently 44.59%.

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.