Tredje AP fonden Sells 11,021 Shares of Genuine Parts (NYSE:GPC)

Tredje AP fonden cut its holdings in shares of Genuine Parts (NYSE:GPC) by 50.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,021 shares of the specialty retailer’s stock after selling 11,021 shares during the period. Tredje AP fonden’s holdings in Genuine Parts were worth $1,287,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in GPC. Ashton Thomas Securities LLC acquired a new position in shares of Genuine Parts during the third quarter worth $26,000. Kestra Investment Management LLC acquired a new position in shares of Genuine Parts during the fourth quarter worth $28,000. First Command Advisory Services Inc. acquired a new position in shares of Genuine Parts during the fourth quarter worth $28,000. Compass Planning Associates Inc acquired a new position in shares of Genuine Parts during the fourth quarter worth $29,000. Finally, Synergy Asset Management LLC acquired a new position in shares of Genuine Parts during the fourth quarter worth $32,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Price Performance

NYSE:GPC opened at $122.16 on Friday. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The firm has a market cap of $16.95 billion, a price-to-earnings ratio of 18.88 and a beta of 0.93. The firm’s fifty day moving average is $120.41 and its two-hundred day moving average is $125.54.

Genuine Parts (NYSE:GPC) last posted its quarterly 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 net margin of 3.85% and a return on equity of 25.28%. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period in the prior year, the company earned $2.26 earnings per share. Research analysts expect that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The company also recently announced 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. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts’s dividend payout ratio is presently 63.68%.

Analysts Set New Price Targets

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

Genuine Parts Company 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.