Grove Bank & Trust Has $61,000 Stock Holdings in Genuine Parts (NYSE:GPC)

Grove Bank & Trust cut its stake in Genuine Parts (NYSE:GPC) by 26.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 442 shares of the specialty retailer’s stock after selling 158 shares during the period. Grove Bank & Trust’s holdings in Genuine Parts were worth $61,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Genuine Parts in the 3rd quarter valued at $25,000. OFI Invest Asset Management bought a new position in shares of Genuine Parts in the 3rd quarter valued at $25,000. Sunbelt Securities Inc. increased its stake in shares of Genuine Parts by 122.2% in the 2nd 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 last quarter. Briaud Financial Planning Inc bought a new position in shares of Genuine Parts in the 3rd quarter valued at $28,000. Finally, Milestone Investment Advisors LLC bought a new position in shares of Genuine Parts in the 3rd quarter valued at $28,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Stock Down 0.4 %

GPC stock opened at $144.80 on Tuesday. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $174.91. The company has a quick ratio of 0.63, a current ratio of 1.23 and a debt-to-equity ratio of 0.80. The stock’s 50 day moving average is $149.47 and its 200-day moving average is $142.08. The firm has a market capitalization of $20.19 billion, a PE ratio of 15.52 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, February 15th. The specialty retailer reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.06. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The company had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same quarter last year, the company earned $2.05 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. Sell-side analysts expect that Genuine Parts will post 9.76 EPS 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 issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Thursday, February 29th. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s dividend payout ratio (DPR) is currently 42.87%.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was 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 directly owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.37% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on GPC. Wedbush restated a “neutral” rating and set a $140.00 price objective on shares of Genuine Parts in a research report on Friday, February 16th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Evercore ISI upped their target price on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, March 26th. Finally, Truist Financial restated a “buy” rating and set a $167.00 target price on shares of Genuine Parts in a research report on Friday. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Genuine Parts presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.89.

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.