Rodgers Brothers Inc. Sells 12,200 Shares of Genuine Parts (NYSE:GPC)

Rodgers Brothers Inc. reduced its stake in shares of Genuine Parts (NYSE:GPC) by 31.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 26,004 shares of the specialty retailer’s stock after selling 12,200 shares during the period. Rodgers Brothers Inc.’s holdings in Genuine Parts were worth $3,036,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new stake in Genuine Parts during the fourth quarter worth about $206,645,000. Equity Investment Corp acquired a new stake in shares of Genuine Parts during the 4th quarter worth approximately $84,128,000. Raymond James Financial Inc. bought a new position in Genuine Parts in the fourth quarter valued at approximately $57,407,000. State Street Corp raised its position in Genuine Parts by 5.4% during 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 purchasing an additional 401,180 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in Genuine Parts by 1,038.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer’s stock worth $38,803,000 after purchasing an additional 253,400 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Down 1.7 %

Shares of NYSE GPC opened at $118.49 on Monday. The stock has a market cap of $16.44 billion, a P/E ratio of 18.31 and a beta of 0.93. The firm has a 50 day moving average price of $121.13 and a two-hundred day moving average price of $124.00. 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 52-week low of $112.74 and a 52-week high of $164.45.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $5.71 billion. During the same period last year, the company earned $2.26 EPS. As a group, equities analysts forecast that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be issued a $1.03 dividend. The ex-dividend date is Friday, March 7th. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 3.48%. Genuine Parts’s dividend payout ratio is presently 63.68%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GPC shares. Evercore ISI decreased their price target on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Loop Capital assumed coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price for the company. Finally, Truist Financial lifted their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Eight equities research 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’s stock. According to MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and a consensus target price of $137.63.

About Genuine Parts

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.