First Horizon Advisors Inc. Has $6.17 Million Position in Genuine Parts (NYSE:GPC)

First Horizon Advisors Inc. decreased its stake in Genuine Parts (NYSE:GPC) by 4.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 44,511 shares of the specialty retailer’s stock after selling 1,918 shares during the quarter. First Horizon Advisors Inc.’s holdings in Genuine Parts were worth $6,165,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GPC. Invesco Ltd. lifted its stake in Genuine Parts by 71.1% in the third quarter. Invesco Ltd. now owns 2,590,036 shares of the specialty retailer’s stock valued at $373,949,000 after acquiring an additional 1,076,361 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Genuine Parts by 15,175.4% in the 4th 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 last quarter. Charles Schwab Investment Management Inc. grew its holdings in Genuine Parts by 17.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,521,786 shares of the specialty retailer’s stock worth $345,130,000 after purchasing an additional 367,665 shares during the period. Ameriprise Financial Inc. increased its position in 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 buying an additional 313,438 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Genuine Parts by 19.8% in the third quarter. Envestnet Asset Management Inc. now owns 892,717 shares of the specialty retailer’s stock valued at $128,890,000 after buying an additional 147,674 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Ratings Changes

GPC has been the topic of a number of recent analyst reports. Evercore ISI decreased their target price on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Wedbush reissued a “neutral” rating and issued a $170.00 price objective (up from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Jefferies Financial Group raised their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Finally, Truist Financial boosted their price objective on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $173.10.

Genuine Parts Price Performance

Shares of GPC traded up $1.09 during mid-day trading on Friday, reaching $157.41. The company had a trading volume of 662,832 shares, compared to its average volume of 1,063,477. The company has a market capitalization of $21.93 billion, a price-to-earnings ratio of 17.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. The company’s 50 day simple moving average is $153.20 and its 200 day simple moving average is $143.28. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $174.91.

Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The firm had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the previous year, the firm posted $2.14 earnings per share. The company’s revenue was up .3% on a year-over-year basis. Analysts expect that Genuine Parts will post 9.94 EPS for the current year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Friday, June 7th. Genuine Parts’s payout ratio is 44.59%.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total transaction of $503,490.00. Following the completion of the transaction, the director now owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.