Fruth Investment Management Reduces Position in Genuine Parts (GPC)

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Fruth Investment Management decreased its holdings in Genuine Parts (NYSE:GPC) by 8.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,460 shares of the specialty retailer’s stock after selling 500 shares during the quarter. Fruth Investment Management’s holdings in Genuine Parts were worth $611,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc raised its stake in Genuine Parts by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 14,954,369 shares of the specialty retailer’s stock worth $1,486,465,000 after acquiring an additional 191,348 shares during the period. BlackRock Inc. raised its stake in Genuine Parts by 2.1% during the 4th quarter. BlackRock Inc. now owns 14,536,577 shares of the specialty retailer’s stock worth $1,395,802,000 after acquiring an additional 299,754 shares during the period. Geode Capital Management LLC raised its stake in Genuine Parts by 9.1% during the 4th quarter. Geode Capital Management LLC now owns 1,965,765 shares of the specialty retailer’s stock worth $188,434,000 after acquiring an additional 163,768 shares during the period. Northern Trust Corp raised its stake in Genuine Parts by 5.0% during the 4th quarter. Northern Trust Corp now owns 1,732,859 shares of the specialty retailer’s stock worth $166,389,000 after acquiring an additional 83,030 shares during the period. Finally, Norges Bank bought a new stake in Genuine Parts during the 4th quarter worth approximately $132,716,000. 76.12% of the stock is currently owned by institutional investors.

A number of equities research analysts have commented on GPC shares. Zacks Investment Research upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $104.00 target price on the stock in a research note on Friday, January 4th. ValuEngine upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Tuesday, February 19th. Evercore ISI started coverage on shares of Genuine Parts in a research report on Wednesday, March 20th. They issued an “in-line” rating and a $110.00 price target on the stock. Wedbush restated a “neutral” rating on shares of Genuine Parts in a research report on Tuesday, January 15th. Finally, Bank of America upgraded shares of Genuine Parts from an “underperform” rating to a “neutral” rating in a research report on Wednesday, January 9th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Genuine Parts has a consensus rating of “Hold” and an average target price of $103.60.

Shares of Genuine Parts stock opened at $113.08 on Wednesday. The stock has a market capitalization of $16.45 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 3.66 and a beta of 1.04. The company has a quick ratio of 0.67, a current ratio of 1.28 and a debt-to-equity ratio of 0.70. Genuine Parts has a one year low of $86.89 and a one year high of $115.20.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, February 19th. The specialty retailer reported $1.35 EPS for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.03. The business had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.56 billion. Genuine Parts had a net margin of 4.33% and a return on equity of 23.45%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 earnings per share. On average, sell-side analysts anticipate that Genuine Parts will post 5.94 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 8th were issued a $0.7625 dividend. The ex-dividend date was Thursday, March 7th. This is an increase from Genuine Parts’s previous quarterly dividend of $0.72. This represents a $3.05 dividend on an annualized basis and a yield of 2.70%. Genuine Parts’s payout ratio is currently 53.70%.

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About Genuine Parts

Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment; and accessory items for automotive aftermarket, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.

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

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