Genuine Parts (NYSE:GPC) Stake Lessened by UMB Bank n.a.

UMB Bank n.a. lessened its stake in Genuine Parts (NYSE:GPCFree Report) by 16.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,689 shares of the specialty retailer’s stock after selling 6,468 shares during the period. UMB Bank n.a.’s holdings in Genuine Parts were worth $4,527,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Genuine Parts by 2.9% during the first quarter. Vanguard Group Inc. now owns 17,088,101 shares of the specialty retailer’s stock worth $2,153,442,000 after acquiring an additional 481,039 shares during the last quarter. State Street Corp grew its position in shares of Genuine Parts by 2.2% during the second quarter. State Street Corp now owns 7,344,846 shares of the specialty retailer’s stock worth $1,249,779,000 after acquiring an additional 155,203 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Genuine Parts by 4.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,860,574 shares of the specialty retailer’s stock worth $612,531,000 after acquiring an additional 185,529 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Genuine Parts by 1.3% during the first quarter. Geode Capital Management LLC now owns 2,977,671 shares of the specialty retailer’s stock worth $497,089,000 after acquiring an additional 36,774 shares during the last quarter. Finally, Imprint Wealth LLC grew its position in shares of Genuine Parts by 16,507.5% during the second quarter. Imprint Wealth LLC now owns 2,611,194 shares of the specialty retailer’s stock worth $261,119,000 after acquiring an additional 2,595,471 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on GPC. Truist Financial upped their price objective on shares of Genuine Parts from $157.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday. Evercore ISI upped their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, March 26th. Wedbush reaffirmed a “neutral” rating and issued a $140.00 price objective on shares of Genuine Parts in a report on Friday, February 16th. Finally, StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Tuesday, March 26th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Genuine Parts presently has an average rating of “Moderate Buy” and an average price target of $168.89.

View Our Latest Stock Analysis on GPC

Genuine Parts Trading Down 0.3 %

NYSE GPC opened at $153.79 on Wednesday. Genuine Parts has a one year low of $126.35 and a one year high of $174.91. The business’s fifty day moving average is $148.29 and its 200-day moving average is $141.91. The stock has a market capitalization of $21.44 billion, a price-to-earnings ratio of 16.48 and a beta of 0.94. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.23 and a quick ratio of 0.63.

Genuine Parts (NYSE:GPCGet Free Report) last announced its quarterly earnings data on Thursday, February 15th. The specialty retailer reported $2.26 earnings per share (EPS) 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 business had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.64 billion. During the same period in the previous year, the business posted $2.05 EPS. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities research analysts predict that Genuine Parts will post 9.77 EPS for the current year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a $1.00 dividend. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. This represents a $4.00 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Thursday, February 29th. Genuine Parts’s payout ratio is currently 42.87%.

Insider Activity

In other news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the sale, the director now directly owns 14,397 shares in the company, valued at $2,230,383.24. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.37% of the company’s stock.

About Genuine Parts

(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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