Bank of New Hampshire Sells 5,102 Shares of Genuine Parts (NYSE:GPC)

Bank of New Hampshire cut its holdings in shares of Genuine Parts (NYSE:GPC) by 80.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,239 shares of the specialty retailer’s stock after selling 5,102 shares during the quarter. Bank of New Hampshire’s holdings in Genuine Parts were worth $172,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GPC. CWM LLC grew its position in Genuine Parts by 13.4% in the third quarter. CWM LLC now owns 3,628 shares of the specialty retailer’s stock worth $524,000 after acquiring an additional 428 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Genuine Parts by 18.7% during the third quarter. SG Americas Securities LLC now owns 11,467 shares of the specialty retailer’s stock valued at $1,656,000 after buying an additional 1,809 shares during the period. RFG Advisory LLC purchased a new position in shares of Genuine Parts during the third quarter valued at approximately $227,000. DAVENPORT & Co LLC boosted its position in shares of Genuine Parts by 4.6% during the third quarter. DAVENPORT & Co LLC now owns 6,099 shares of the specialty retailer’s stock valued at $881,000 after buying an additional 269 shares during the period. Finally, Avior Wealth Management LLC boosted its position in shares of Genuine Parts by 51.9% during the third quarter. Avior Wealth Management LLC now owns 483 shares of the specialty retailer’s stock valued at $70,000 after buying an additional 165 shares during the period. 78.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on GPC. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Jefferies Financial Group upped their price target on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Truist Financial upped their price target on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Wedbush reissued a “neutral” rating and set a $170.00 price objective (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Finally, Evercore ISI lowered their price target on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $173.10.

Insider Activity

In other news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the sale, the director now owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.37% of the company’s stock.

Genuine Parts Trading Down 0.5 %

Shares of NYSE:GPC traded down $0.73 during mid-day trading on Thursday, reaching $161.07. 1,449,618 shares of the company were exchanged, compared to its average volume of 1,068,228. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $174.91. The firm has a market cap of $22.44 billion, a price-to-earnings ratio of 17.96 and a beta of 0.94. The firm’s 50-day simple moving average is $151.08 and its 200 day simple moving average is $142.62.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping the consensus estimate of $2.15 by $0.07. The firm had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. Genuine Parts’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the business earned $2.14 EPS. Equities research analysts forecast that Genuine Parts will post 9.89 EPS for the current year.

Genuine Parts Increases Dividend

The company 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 is an increase from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.48%. Genuine Parts’s payout ratio is presently 44.59%.

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.