Johnson Investment Counsel Inc. Has $29.41 Million Stake in Genuine Parts (NYSE:GPC)

Johnson Investment Counsel Inc. trimmed its position in shares of Genuine Parts (NYSE:GPC) by 12.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 251,881 shares of the specialty retailer’s stock after selling 36,144 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Genuine Parts were worth $29,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Genuine Parts during the 3rd quarter valued at about $26,000. Kestra Investment Management LLC acquired a new stake in shares of Genuine Parts during the 4th quarter valued at about $28,000. First Command Advisory Services Inc. acquired a new stake in shares of Genuine Parts during the 4th quarter valued at about $28,000. Compass Planning Associates Inc acquired a new stake in shares of Genuine Parts during the 4th quarter valued at about $29,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Genuine Parts in the 3rd quarter valued at approximately $31,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GPC has been the topic of a number of recent analyst reports. Evercore ISI cut their price objective 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. Loop Capital initiated coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective on the stock. Truist Financial raised their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Finally, Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $137.63.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $127.41 on Monday. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The business’s 50 day moving average is $119.74 and its two-hundred day moving average is $125.97. The company has a market cap of $17.68 billion, a P/E ratio of 19.69 and a beta of 0.93. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping the consensus estimate of $1.54 by $0.07. The company had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same period in the previous year, the business posted $2.26 EPS. On average, equities analysts expect that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The company also recently disclosed 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. 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 dividend on an annualized basis and a dividend yield of 3.23%. Genuine Parts’s payout ratio is currently 63.68%.

Insider Activity

In other news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the sale, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.37% of the stock is currently owned by company insiders.

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.