Trust Co. of Vermont Sells 432 Shares of Genuine Parts (NYSE:GPC)

Trust Co. of Vermont cut its position in Genuine Parts (NYSE:GPC) by 5.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,492 shares of the specialty retailer’s stock after selling 432 shares during the period. Trust Co. of Vermont’s holdings in Genuine Parts were worth $875,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sanibel Captiva Trust Company Inc. lifted its position in Genuine Parts by 14.5% in the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 9,069 shares of the specialty retailer’s stock valued at $1,059,000 after acquiring an additional 1,150 shares in the last quarter. Verity & Verity LLC raised its stake in shares of Genuine Parts by 9.7% in the fourth quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock worth $12,198,000 after purchasing an additional 9,199 shares during the last quarter. Arkadios Wealth Advisors bought a new position in shares of Genuine Parts during the fourth quarter valued at $488,000. LongView Wealth Management boosted its position in shares of Genuine Parts by 7.3% during the fourth quarter. LongView Wealth Management now owns 84,328 shares of the specialty retailer’s stock valued at $9,846,000 after buying an additional 5,745 shares during the last quarter. Finally, O Keefe Stevens Advisory Inc. increased its holdings in Genuine Parts by 53.8% in the 4th quarter. O Keefe Stevens Advisory Inc. now owns 4,845 shares of the specialty retailer’s stock worth $566,000 after buying an additional 1,694 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on GPC shares. Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday. The Goldman Sachs Group lowered their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Wedbush lowered their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Finally, Truist Financial cut their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. 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 data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $141.50.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.37% of the stock is owned by corporate insiders.

Genuine Parts Price Performance

NYSE GPC opened at $118.43 on Friday. The business’s fifty day moving average is $120.69 and its 200 day moving average is $130.39. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The company has a market capitalization of $16.47 billion, a PE ratio of 15.24 and a beta of 0.95.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter last year, the firm posted $2.49 earnings per share. The company’s revenue was up 3.0% compared to the same quarter last year. Sell-side analysts predict that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is 51.48%.

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.