Haverford Trust Co Cuts Stock Position in Genuine Parts (NYSE:GPC)

Haverford Trust Co lessened its stake in shares of Genuine Parts (NYSE:GPC) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,373 shares of the specialty retailer’s stock after selling 5,325 shares during the period. Haverford Trust Co owned approximately 0.08% of Genuine Parts worth $12,420,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new position in shares of Genuine Parts in the 4th quarter worth about $25,000. Kestra Investment Management LLC purchased a new position in Genuine Parts in the 4th quarter worth approximately $28,000. First Command Advisory Services Inc. bought a new position in Genuine Parts in the 4th quarter valued at approximately $28,000. Compass Planning Associates Inc bought a new stake in shares of Genuine Parts in the 4th quarter worth $29,000. Finally, Synergy Asset Management LLC bought a new position in shares of Genuine Parts during the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Evercore ISI reduced their target price on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Loop Capital began coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target on the stock. Finally, Truist Financial upped their price objective on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Eight 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’s stock. According to MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and a consensus target price of $137.63.

Genuine Parts Price Performance

GPC stock opened at $118.93 on Monday. The company has a market capitalization of $16.50 billion, a PE ratio of 18.38 and a beta of 0.93. The company’s fifty day moving average price is $120.99 and its 200-day moving average price is $124.58. 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.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating 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 return on equity of 25.28% and a net margin of 3.85%. During the same quarter last year, the business posted $2.26 earnings per share. On average, equities analysts anticipate that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

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

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.