Mutual of America Capital Management LLC Trims Stock Position in Genuine Parts (NYSE:GPC)

Mutual of America Capital Management LLC trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,665 shares of the specialty retailer’s stock after selling 502 shares during the period. Mutual of America Capital Management LLC’s holdings in Genuine Parts were worth $1,946,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of GPC. Ashton Thomas Securities LLC acquired a new stake in Genuine Parts during the 3rd quarter valued at $26,000. Kestra Investment Management LLC purchased a new position in shares of Genuine Parts during the 4th quarter worth $28,000. First Command Advisory Services Inc. purchased a new position in shares of Genuine Parts during the 4th quarter worth $28,000. Compass Planning Associates Inc purchased a new position in shares of Genuine Parts in the 4th quarter worth $29,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Genuine Parts in the 3rd quarter worth $31,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Evercore ISI lowered their target price on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Loop Capital initiated coverage on Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 price target on the stock. Truist Financial boosted their target price on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Finally, Redburn Atlantic upgraded shares of 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $137.63.

Genuine Parts Stock Up 1.2 %

GPC stock opened at $127.41 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The company has a fifty day simple moving average of $119.74 and a 200 day simple moving average of $126.10. The firm has a market cap of $17.68 billion, a PE ratio of 19.69 and a beta of 0.93.

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

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be given 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 is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a yield of 3.23%. Genuine Parts’s payout ratio is currently 63.68%.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the transaction, the director now owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.37% of the company’s stock.

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.