NBT Bank N A NY Decreases Stake in Genuine Parts (NYSE:GPC)

NBT Bank N A NY cut its holdings in Genuine Parts (NYSE:GPC) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,804 shares of the specialty retailer’s stock after selling 88 shares during the quarter. NBT Bank N A NY’s holdings in Genuine Parts were worth $211,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. State Street Corp boosted its stake in shares of 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 boosted its stake in shares of Genuine Parts by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer’s stock valued at $458,947,000 after buying an additional 32,858 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Genuine Parts by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer’s stock valued at $337,428,000 after buying an additional 145,960 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Genuine Parts by 1.2% in the third quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer’s stock valued at $287,405,000 after buying an additional 25,015 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Genuine Parts by 6.6% in the third quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer’s stock valued at $257,124,000 after buying an additional 114,180 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the company. Evercore ISI decreased their target price on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Loop Capital assumed coverage on Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 target price on the stock. Truist Financial boosted their target price on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Eight investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Genuine Parts presently has a consensus rating of “Hold” and an average target price of $137.63.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the transaction, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.42% of the company’s stock.

Genuine Parts Stock Down 4.1 %

Shares of NYSE:GPC opened at $123.74 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The stock’s fifty day simple moving average is $120.15 and its 200-day simple moving average is $125.76. The company has a market capitalization of $17.17 billion, a P/E ratio of 19.13 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the prior year, the business earned $2.26 earnings per share. As a group, equities research analysts forecast that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be paid a $1.03 dividend. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts’s dividend payout ratio is presently 63.68%.

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.