Twin City Private Wealth LLC Sells 599 Shares of Genuine Parts (NYSE:GPC)

Twin City Private Wealth LLC cut its position in shares of Genuine Parts (NYSE:GPC) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,326 shares of the specialty retailer’s stock after selling 599 shares during the period. Twin City Private Wealth LLC’s holdings in Genuine Parts were worth $1,334,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GPC. Prospera Financial Services Inc boosted its stake in Genuine Parts by 36.3% during the third quarter. Prospera Financial Services Inc now owns 3,732 shares of the specialty retailer’s stock valued at $522,000 after buying an additional 993 shares during the last quarter. Citizens Financial Group Inc. RI lifted its stake in shares of Genuine Parts by 2.8% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer’s stock valued at $533,000 after purchasing an additional 103 shares during the last quarter. King Luther Capital Management Corp lifted its stake in shares of Genuine Parts by 1.3% in the 3rd quarter. King Luther Capital Management Corp now owns 9,808 shares of the specialty retailer’s stock valued at $1,370,000 after purchasing an additional 122 shares during the last quarter. Raymond James Trust N.A. lifted its stake in shares of Genuine Parts by 7.1% in the 3rd quarter. Raymond James Trust N.A. now owns 8,138 shares of the specialty retailer’s stock valued at $1,137,000 after purchasing an additional 543 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of Genuine Parts by 0.7% in the 3rd quarter. Cerity Partners LLC now owns 197,953 shares of the specialty retailer’s stock valued at $27,650,000 after purchasing an additional 1,316 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Loop Capital assumed coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective for the company. Truist Financial raised their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Finally, Evercore ISI lowered their price objective 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. 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $137.63.

Genuine Parts Trading Down 1.5 %

Shares of NYSE GPC opened at $118.93 on Monday. 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 business’s 50 day moving average price is $120.99 and its 200-day moving average price is $124.58. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a market cap of $16.50 billion, a price-to-earnings ratio of 18.38 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results 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 firm had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same period in the prior year, the business posted $2.26 earnings per share. On average, sell-side analysts expect that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be issued a dividend of $1.03 per share. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 3.46%. The ex-dividend date is Friday, March 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 63.68%.

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.