Genuine Parts (NYSE:GPC) Shares Sold by Cambridge Trust Co.

Cambridge Trust Co. reduced its holdings in Genuine Parts (NYSE:GPC) by 23.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,834 shares of the specialty retailer’s stock after selling 2,463 shares during the quarter. Cambridge Trust Co.’s holdings in Genuine Parts were worth $1,311,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GPC. OLD Mission Capital LLC acquired a new stake in Genuine Parts during the fourth quarter worth about $28,000. Ten Capital Wealth Advisors LLC increased its stake in Genuine Parts by 1,308.3% during the first quarter. Ten Capital Wealth Advisors LLC now owns 169 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 157 shares during the last quarter. Salem Investment Counselors Inc. increased its stake in Genuine Parts by 42.9% during the fourth quarter. Salem Investment Counselors Inc. now owns 200 shares of the specialty retailer’s stock worth $35,000 after acquiring an additional 60 shares during the last quarter. Compass Wealth Management LLC acquired a new stake in shares of Genuine Parts in the fourth quarter valued at about $35,000. Finally, Fred Alger Management LLC acquired a new stake in shares of Genuine Parts in the third quarter valued at about $42,000. 77.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GPC shares. Wedbush dropped their price target on Genuine Parts from $170.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, July 21st. JPMorgan Chase & Co. lowered their target price on Genuine Parts from $190.00 to $184.00 and set an “overweight” rating on the stock in a research report on Friday, July 21st. Truist Financial lowered their price target on Genuine Parts from $195.00 to $191.00 and set a “buy” rating on the stock in a research report on Friday, July 21st. Stephens lowered their price target on Genuine Parts from $172.00 to $168.00 and set an “equal weight” rating on the stock in a research report on Friday, July 21st. Finally, StockNews.com initiated coverage on Genuine Parts in a research note on Thursday, August 17th. They set a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Genuine Parts has a consensus rating of “Moderate Buy” and an average target price of $177.00.

Genuine Parts Stock Up 0.9 %

Shares of Genuine Parts stock traded up $1.35 during midday trading on Friday, hitting $155.08. The company’s stock had a trading volume of 575,324 shares, compared to its average volume of 1,006,991. The firm has a market capitalization of $21.78 billion, a P/E ratio of 18.13, a PEG ratio of 1.86 and a beta of 0.90. The stock has a 50-day simple moving average of $159.60 and a 200-day simple moving average of $163.47. The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 0.73. Genuine Parts has a 1-year low of $145.30 and a 1-year high of $187.73.

Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, July 20th. The specialty retailer reported $2.44 EPS for the quarter, topping the consensus estimate of $2.34 by $0.10. The business had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.96 billion. Genuine Parts had a return on equity of 32.43% and a net margin of 5.30%. Genuine Parts’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.20 earnings per share. As a group, sell-side analysts expect that Genuine Parts will post 9.24 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be given a $0.95 dividend. The ex-dividend date is Thursday, September 7th. This represents a $3.80 annualized dividend and a dividend yield of 2.45%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.44%.

About Genuine Parts

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.