Swiss National Bank Sells 12,200 Shares of Genuine Parts (NYSE:GPC)

Swiss National Bank trimmed its position in Genuine Parts (NYSE:GPC) by 2.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 439,200 shares of the specialty retailer’s stock after selling 12,200 shares during the period. Swiss National Bank’s holdings in Genuine Parts were worth $60,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in GPC. Silver Lake Advisory LLC increased its position in Genuine Parts by 15.4% during the fourth quarter. Silver Lake Advisory LLC now owns 29,243 shares of the specialty retailer’s stock worth $4,050,000 after acquiring an additional 3,911 shares during the period. Mechanics Financial Corp raised its position in shares of Genuine Parts by 3.5% in the fourth quarter. Mechanics Financial Corp now owns 2,634 shares of the specialty retailer’s stock valued at $365,000 after buying an additional 90 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Genuine Parts by 9.0% in the fourth quarter. Fisher Asset Management LLC now owns 2,455 shares of the specialty retailer’s stock valued at $340,000 after buying an additional 203 shares during the period. Heritage Wealth Management LLC acquired a new stake in Genuine Parts during the fourth quarter worth approximately $659,000. Finally, First Trust Direct Indexing L.P. increased its stake in Genuine Parts by 26.0% during the 4th quarter. First Trust Direct Indexing L.P. now owns 3,134 shares of the specialty retailer’s stock worth $434,000 after acquiring an additional 646 shares during the period. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $157.41 on Monday. Genuine Parts has a one year low of $126.35 and a one year high of $174.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. The company has a market cap of $21.93 billion, a price-to-earnings ratio of 17.55 and a beta of 0.94. The firm has a 50 day simple moving average of $153.39 and a 200 day simple moving average of $143.24.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the prior year, the business earned $2.14 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. Research analysts predict that Genuine Parts will post 9.94 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

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 related news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the transaction, the director now owns 14,397 shares in the company, valued at approximately $2,230,383.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GPC. Truist Financial increased their target price on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Wedbush reiterated a “neutral” rating and set a $170.00 price objective (up from $140.00) on shares of Genuine Parts 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. Jefferies Financial Group upped their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Finally, Evercore ISI decreased their price objective on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and a consensus price target of $173.10.

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.