Haverford Trust Co Sells 5,325 Shares of Genuine Parts (NYSE:GPC)

Haverford Trust Co reduced its holdings in shares of Genuine Parts (NYSE:GPC) by 4.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 106,373 shares of the specialty retailer’s stock after selling 5,325 shares during the period. Haverford Trust Co’s holdings in Genuine Parts were worth $12,420,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Marco Investment Management LLC lifted its holdings in shares of Genuine Parts by 1.2% in the 3rd quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock valued at $1,104,000 after buying an additional 91 shares during the period. Hartford Financial Management Inc. grew its position in shares of Genuine Parts by 0.5% in the fourth quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer’s stock valued at $2,185,000 after purchasing an additional 99 shares during the period. Citizens Financial Group Inc. RI raised its holdings in shares of Genuine Parts by 2.8% during the third quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer’s stock valued at $533,000 after acquiring an additional 103 shares during the last quarter. New York Life Investment Management LLC increased its position in shares of Genuine Parts by 0.6% during the fourth quarter. New York Life Investment Management LLC now owns 18,743 shares of the specialty retailer’s stock worth $2,188,000 after purchasing an additional 108 shares in the last quarter. Finally, Grimes & Company Inc. raised its stake in Genuine Parts by 3.3% in the 4th quarter. Grimes & Company Inc. now owns 3,494 shares of the specialty retailer’s stock valued at $408,000 after purchasing an additional 111 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Stock Performance

NYSE:GPC opened at $118.93 on Monday. The stock has a market capitalization of $16.50 billion, a P/E ratio of 18.38 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a 50 day moving average price of $120.99 and a 200 day moving average price of $124.58.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The business had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same period in the previous year, the firm posted $2.26 earnings per share. Equities research analysts forecast that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio is currently 63.68%.

Analysts Set New Price Targets

Several research firms recently commented on GPC. Loop Capital started coverage on Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. Evercore ISI reduced their price target on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Truist Financial raised their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $137.63.

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.