Mutual of America Capital Management LLC Lowers Holdings in Genuine Parts (NYSE:GPC)

Mutual of America Capital Management LLC cut its holdings in Genuine Parts (NYSE:GPC) by 4.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,778 shares of the specialty retailer’s stock after selling 892 shares during the period. Mutual of America Capital Management LLC’s holdings in Genuine Parts were worth $2,601,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. GHP Investment Advisors Inc. lifted its holdings in Genuine Parts by 3.2% in the 4th quarter. GHP Investment Advisors Inc. now owns 48,791 shares of the specialty retailer’s stock worth $6,758,000 after purchasing an additional 1,521 shares in the last quarter. Hendershot Investments Inc. increased its stake in Genuine Parts by 57.9% in the 4th quarter. Hendershot Investments Inc. now owns 116,813 shares of the specialty retailer’s stock worth $16,179,000 after acquiring an additional 42,821 shares during the last quarter. Soltis Investment Advisors LLC increased its stake in Genuine Parts by 57.4% in the 4th quarter. Soltis Investment Advisors LLC now owns 34,052 shares of the specialty retailer’s stock worth $4,716,000 after acquiring an additional 12,415 shares during the last quarter. Vivid Wealth Management LLC bought a new stake in Genuine Parts in the 4th quarter worth approximately $706,000. Finally, Harbour Trust & Investment Management Co bought a new stake in Genuine Parts in the 4th quarter worth approximately $1,343,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the transaction, the director now owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Truist Financial lifted their price objective on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday. Wedbush reaffirmed a “neutral” rating and issued a $170.00 price objective (up previously from $140.00) on shares of Genuine Parts in a research note on Friday. Jefferies Financial Group lifted their price objective on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday. Finally, Evercore ISI cut their target price on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $173.10.

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $162.39 on Friday. The stock’s fifty day moving average is $150.30 and its two-hundred day moving average is $142.34. The company has a market capitalization of $22.64 billion, a PE ratio of 17.41 and a beta of 0.94. The company has a quick ratio of 0.63, a current ratio of 1.23 and a debt-to-equity ratio of 0.80. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $174.91.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, beating the consensus estimate of $2.15 by $0.07. The company had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. Genuine Parts’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.14 EPS. As a group, analysts expect that Genuine Parts will post 9.66 earnings per share for the current year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.46%. The ex-dividend date was Thursday, February 29th. This is an increase from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s dividend payout ratio is 42.87%.

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.