Genuine Parts (NYSE:GPC) Stock Holdings Reduced by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its position in shares of Genuine Parts (NYSE:GPC) by 29.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,740 shares of the specialty retailer’s stock after selling 13,300 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Genuine Parts were worth $3,706,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Pinnacle Financial Partners Inc lifted its stake in Genuine Parts by 2.5% in the fourth quarter. Pinnacle Financial Partners Inc now owns 4,630 shares of the specialty retailer’s stock valued at $541,000 after acquiring an additional 115 shares during the last quarter. Sigma Planning Corp raised its holdings in shares of Genuine Parts by 20.5% during the 4th quarter. Sigma Planning Corp now owns 3,576 shares of the specialty retailer’s stock valued at $418,000 after purchasing an additional 608 shares in the last quarter. Navellier & Associates Inc. lifted its stake in shares of Genuine Parts by 34.2% in the 4th quarter. Navellier & Associates Inc. now owns 4,516 shares of the specialty retailer’s stock valued at $527,000 after purchasing an additional 1,150 shares during the last quarter. Hudson Edge Investment Partners Inc. boosted its holdings in Genuine Parts by 20.7% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 51,847 shares of the specialty retailer’s stock worth $6,054,000 after purchasing an additional 8,875 shares in the last quarter. Finally, Compass Planning Associates Inc acquired a new position in Genuine Parts during the fourth quarter worth $29,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the transaction, the director now directly owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.37% of the stock is owned by company insiders.

Genuine Parts Stock Up 0.8 %

GPC stock opened at $123.22 on Wednesday. Genuine Parts has a twelve month low of $112.74 and a twelve 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 $17.13 billion, a PE ratio of 19.04 and a beta of 0.94. The business’s 50-day simple moving average is $118.46 and its 200 day simple moving average is $126.78.

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

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.34%. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 63.68%.

Wall Street Analysts Forecast Growth

GPC has been the subject of several recent analyst reports. Loop Capital assumed coverage on Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price target for the company. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Evercore ISI dropped their price target on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock 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 report on Friday, January 17th. Finally, Truist Financial raised their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $137.63.

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.