Huntington National Bank Sells 391 Shares of Genuine Parts (NYSE:GPC)

Huntington National Bank lessened its holdings in shares of Genuine Parts (NYSE:GPC) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,632 shares of the specialty retailer’s stock after selling 391 shares during the period. Huntington National Bank’s holdings in Genuine Parts were worth $4,744,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp lifted its stake in Genuine Parts by 5.4% in the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock valued at $1,103,300,000 after buying an additional 401,180 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Genuine Parts by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer’s stock worth $391,604,000 after acquiring an additional 65,783 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Genuine Parts by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer’s stock valued at $337,428,000 after acquiring an additional 145,960 shares in the last quarter. Stifel Financial Corp boosted its stake in Genuine Parts by 1.2% in the 3rd quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer’s stock worth $287,405,000 after purchasing an additional 25,015 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Genuine Parts by 6.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer’s stock worth $257,124,000 after purchasing an additional 114,180 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

NYSE GPC opened at $120.17 on Thursday. The firm has a market capitalization of $16.68 billion, a P/E ratio of 18.57 and a beta of 0.93. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The firm’s fifty day moving average price is $121.16 and its two-hundred day moving average price is $123.72. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45.

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

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th were paid a dividend of $1.03 per share. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a dividend yield of 3.43%. The ex-dividend date was Friday, March 7th. Genuine Parts’s payout ratio is currently 63.68%.

Analysts Set New Price Targets

GPC has been the topic of a number of research reports. Truist Financial boosted their price target on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Evercore ISI lifted their price objective on shares of Genuine Parts from $125.00 to $128.00 and gave the company an “in-line” rating in a report on Tuesday. Loop Capital assumed coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective on the stock. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $135.00.

Genuine Parts 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.