TD Asset Management Inc Reduces Position in Genuine Parts (NYSE:GPC)

TD Asset Management Inc cut its stake in shares of Genuine Parts (NYSE:GPCFree Report) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,607 shares of the specialty retailer’s stock after selling 4,997 shares during the quarter. TD Asset Management Inc owned about 0.07% of Genuine Parts worth $13,380,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Assetmark Inc. grew its holdings in shares of Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 96 shares during the last quarter. Orion Capital Management LLC purchased a new stake in Genuine Parts in the third quarter valued at $42,000. Costello Asset Management INC boosted its holdings in Genuine Parts by 200.0% in the fourth quarter. Costello Asset Management INC now owns 300 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 200 shares during the last quarter. HHM Wealth Advisors LLC purchased a new stake in Genuine Parts in the fourth quarter valued at $46,000. Finally, BKM Wealth Management LLC purchased a new stake in Genuine Parts in the fourth quarter valued at $47,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 3,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the completion of the sale, the director now owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Wendy B. Needham sold 3,250 shares of the 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 sale, the director now owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Wendy B. Needham sold 3,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the completion of the sale, the director now directly owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The disclosure for this sale can be found here. 0.37% of the stock is owned by corporate insiders.

Genuine Parts Stock Down 0.0 %

GPC opened at $144.11 on Tuesday. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $170.57. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average price of $152.47 and a 200 day moving average price of $145.89. The company has a market cap of $20.07 billion, a PE ratio of 16.07 and a beta of 0.93.

Genuine Parts (NYSE:GPCGet Free Report) last released its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share 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 firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the prior year, the firm earned $2.14 EPS. The company’s revenue for the quarter was up .3% on a year-over-year basis. Sell-side analysts expect that Genuine Parts will post 9.92 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.00 annualized dividend and a yield of 2.78%. Genuine Parts’s dividend payout ratio is presently 44.59%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GPC shares. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Evercore ISI decreased their price objective on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Truist Financial upped their price objective on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Jefferies Financial Group upped their price objective on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Finally, Wedbush reiterated a “neutral” rating and issued a $170.00 price objective (up previously from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $171.33.

Get Our Latest Stock Analysis on GPC

Genuine Parts Profile

(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.

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

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