Cambridge Trust Co. Sells 265 Shares of Genuine Parts (NYSE:GPC)

Cambridge Trust Co. cut its stake in Genuine Parts (NYSE:GPC) by 2.7% in the 4th quarter, Holdings Channel reports. The firm owned 9,428 shares of the specialty retailer’s stock after selling 265 shares during the period. Cambridge Trust Co.’s holdings in Genuine Parts were worth $1,306,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Genuine Parts by 2.2% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 9,024 shares of the specialty retailer’s stock valued at $1,249,000 after purchasing an additional 191 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of Genuine Parts by 11.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 14,619 shares of the specialty retailer’s stock worth $2,025,000 after buying an additional 1,549 shares during the period. River Road Asset Management LLC increased its stake in shares of Genuine Parts by 417.6% in the 4th quarter. River Road Asset Management LLC now owns 156,148 shares of the specialty retailer’s stock worth $21,626,000 after acquiring an additional 125,980 shares in the last quarter. Oakworth Capital Inc. lifted its position in Genuine Parts by 250.8% during the 4th quarter. Oakworth Capital Inc. now owns 3,834 shares of the specialty retailer’s stock valued at $531,000 after acquiring an additional 2,741 shares during the period. Finally, Telos Capital Management Inc. boosted its stake in Genuine Parts by 5.8% during the fourth quarter. Telos Capital Management Inc. now owns 36,629 shares of the specialty retailer’s stock worth $5,073,000 after acquiring an additional 2,008 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have 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. Evercore ISI lowered their price objective on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research note on Tuesday. Truist Financial reissued a “buy” rating and issued a $167.00 target price on shares of Genuine Parts in a report on Friday, April 12th. Finally, Wedbush restated a “neutral” rating and set a $140.00 price target on shares of Genuine Parts in a report on Friday, February 16th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $168.33.

Genuine Parts Trading Up 11.2 %

Shares of NYSE:GPC opened at $160.23 on Friday. 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 has a 1 year low of $126.35 and a 1 year high of $174.91. The company has a market cap of $22.34 billion, a P/E ratio of 17.17 and a beta of 0.94. The stock’s fifty day moving average price is $149.92 and its 200-day moving average price is $142.22.

Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. The business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. Genuine Parts’s revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.14 EPS. Sell-side analysts expect that Genuine Parts will post 9.66 earnings per share for the current year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend was Thursday, February 29th. This is an increase from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s payout ratio is 42.87%.

Insider Buying and Selling at Genuine Parts

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

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.