Genuine Parts (NYSE:GPC) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc reduced its stake in shares of Genuine Parts (NYSE:GPCFree Report) by 3.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,666 shares of the specialty retailer’s stock after selling 145 shares during the period. Pinnacle Financial Partners Inc’s holdings in Genuine Parts were worth $646,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GPC. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Genuine Parts during the third quarter worth $25,000. OFI Invest Asset Management acquired a new position in Genuine Parts during the third quarter valued at $25,000. Sunbelt Securities Inc. lifted its position in Genuine Parts by 122.2% during the second quarter. Sunbelt Securities Inc. now owns 160 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 88 shares during the period. Briaud Financial Planning Inc acquired a new position in Genuine Parts during the third quarter valued at $28,000. Finally, Milestone Investment Advisors LLC acquired a new position in Genuine Parts during the third quarter valued at $28,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Trading Down 0.4 %

Shares of Genuine Parts stock opened at $153.14 on Thursday. The firm has a 50-day simple moving average of $148.52 and a two-hundred day simple moving average of $141.99. The company has a market cap of $21.35 billion, a P/E ratio of 16.41 and a beta of 0.94. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $174.91. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.63 and a current ratio of 1.23.

Genuine Parts (NYSE:GPCGet Free Report) last released its earnings results on Thursday, February 15th. The specialty retailer reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.06. The business had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.64 billion. Genuine Parts had a net margin of 5.70% and a return on equity of 31.64%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.05 earnings per share. As a group, equities analysts predict that Genuine Parts will post 9.77 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a dividend of $1.00 per share. The ex-dividend date was Thursday, February 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.61%. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s payout ratio is currently 42.87%.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction dated 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 sale, the director now owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on GPC. Evercore ISI boosted their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, March 26th. Wedbush restated a “neutral” rating and set a $140.00 target price on shares of Genuine Parts in a research report on Friday, February 16th. Truist Financial boosted their target price on shares of Genuine Parts from $157.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Tuesday, March 26th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $168.89.

Get Our Latest Analysis on GPC

About Genuine Parts

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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