TrueMark Investments LLC Decreases Stake in Genuine Parts (NYSE:GPC)

TrueMark Investments LLC lowered its position in Genuine Parts (NYSE:GPC) by 1.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 11,355 shares of the specialty retailer’s stock after selling 208 shares during the period. TrueMark Investments LLC’s holdings in Genuine Parts were worth $1,759,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GPC. Assetmark Inc. raised its holdings in shares of Genuine Parts by 109.1% during the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 96 shares during the period. Thompson Investment Management Inc. purchased a new position in shares of Genuine Parts during the 1st quarter worth $35,000. Quarry LP raised its holdings in shares of Genuine Parts by 138.7% during the 4th quarter. Quarry LP now owns 284 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 165 shares during the period. Bruce G. Allen Investments LLC raised its holdings in shares of Genuine Parts by 149.0% during the 1st quarter. Bruce G. Allen Investments LLC now owns 254 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 152 shares during the period. Finally, Orion Capital Management LLC purchased a new position in shares of Genuine Parts during the 3rd quarter worth $42,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

GPC has been the subject of a number of recent analyst reports. Wedbush reissued a “neutral” rating and set a $170.00 price objective (up from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Evercore ISI raised their price objective on Genuine Parts from $160.00 to $165.00 and gave the stock an “in-line” rating in a research report on Thursday, June 20th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, May 24th. Truist Financial lifted their target price on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Finally, Jefferies Financial Group lifted their target price on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $172.44.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total transaction of $453,870.00. Following the completion of the sale, the director now owns 13,006 shares in the company, valued at $1,967,677.74. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Genuine Parts Stock Down 2.1 %

Shares of Genuine Parts stock traded down $2.95 on Tuesday, reaching $139.10. 640,630 shares of the company were exchanged, compared to its average volume of 994,412. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $170.57. The company has a market cap of $19.38 billion, a P/E ratio of 15.51 and a beta of 0.93. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. The stock’s 50 day moving average price is $149.61 and its 200-day moving average price is $146.55.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The business had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the previous year, the company posted $2.14 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. As a group, equities analysts forecast that Genuine Parts will post 9.92 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Friday, June 7th. Genuine Parts’s dividend payout ratio is presently 44.59%.

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.