Twin Tree Management LP Sells 5,345 Shares of Genuine Parts (NYSE:GPC)

Twin Tree Management LP decreased its position in shares of Genuine Parts (NYSE:GPC) by 88.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 697 shares of the specialty retailer’s stock after selling 5,345 shares during the period. Twin Tree Management LP’s holdings in Genuine Parts were worth $81,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quantinno Capital Management LP raised its stake in Genuine Parts by 74.0% during the 3rd quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock worth $1,580,000 after acquiring an additional 4,809 shares during the period. Caprock Group LLC purchased a new stake in Genuine Parts during the 4th quarter valued at approximately $540,000. Verity & Verity LLC grew its holdings in Genuine Parts by 9.7% during the 4th quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock valued at $12,198,000 after buying an additional 9,199 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Genuine Parts during the 4th quarter valued at approximately $21,840,000. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Genuine Parts by 23.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 303,676 shares of the specialty retailer’s stock valued at $42,417,000 after buying an additional 56,776 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Up 0.6 %

NYSE GPC opened at $124.72 on Thursday. 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 company has a fifty day moving average of $120.84 and a two-hundred day moving average of $125.03. The firm has a market capitalization of $17.31 billion, a price-to-earnings ratio of 19.28 and a beta of 0.93. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same period in the previous year, the firm earned $2.26 earnings per share. On average, analysts predict that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.30%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. Genuine Parts’s payout ratio is presently 63.68%.

Analyst Ratings Changes

A number of brokerages have issued reports on GPC. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Truist Financial increased their price objective 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. Evercore ISI cut their price objective on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Finally, Loop Capital assumed coverage on shares of Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $137.63.

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.