Sawyer & Company Inc Sells 535 Shares of Genuine Parts (NYSE:GPC)

Sawyer & Company Inc lessened its holdings in Genuine Parts (NYSE:GPC – Get Rating) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,415 shares of the specialty retailer’s stock after selling 535 shares during the quarter. Sawyer & Company Inc’s holdings in Genuine Parts were worth $1,634,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Genuine Parts by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 17,760,417 shares of the specialty retailer’s stock worth $2,651,985,000 after acquiring an additional 258,620 shares during the last quarter. State Street Corp raised its holdings in Genuine Parts by 4.0% during the 2nd quarter. State Street Corp now owns 8,061,113 shares of the specialty retailer’s stock worth $1,079,211,000 after buying an additional 313,090 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Genuine Parts by 4.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,860,574 shares of the specialty retailer’s stock worth $612,531,000 after buying an additional 185,529 shares during the period. Truist Financial Corp raised its holdings in Genuine Parts by 14.8% during the 3rd quarter. Truist Financial Corp now owns 1,857,081 shares of the specialty retailer’s stock worth $277,299,000 after buying an additional 239,186 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Genuine Parts by 0.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,588,315 shares of the specialty retailer’s stock worth $211,247,000 after buying an additional 14,068 shares during the period. Institutional investors own 78.14% of the company’s stock.

Genuine Parts Price Performance

Shares of GPC opened at $162.07 on Friday. The company has a market cap of $22.82 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 1.84 and a beta of 0.90. Genuine Parts has a 1-year low of $124.85 and a 1-year high of $187.73. The company’s fifty day simple moving average is $169.98 and its 200 day simple moving average is $169.54. The company has a current ratio of 1.15, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC – Get Rating) last released its quarterly earnings data on Thursday, February 23rd. The specialty retailer reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.15. Genuine Parts had a net margin of 5.35% and a return on equity of 32.22%. The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.33 billion. During the same period in the previous year, the business posted $1.79 earnings per share. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, research analysts forecast that Genuine Parts will post 8.93 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, March 3rd will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.34%. This is a boost from Genuine Parts’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, March 2nd. Genuine Parts’s payout ratio is 45.73%.

Analysts Set New Price Targets

Several brokerages have commented on GPC. Truist Financial raised their target price on shares of Genuine Parts from $170.00 to $186.00 and gave the stock a “hold” rating in a report on Friday, February 24th. Wedbush reiterated a “neutral” rating on shares of Genuine Parts in a report on Friday, February 24th. StockNews.com started coverage on shares of Genuine Parts in a report on Thursday. They issued a “buy” rating on the stock. Finally, The Goldman Sachs Group lifted their price objective on shares of Genuine Parts from $147.00 to $157.00 and gave the company a “sell” rating in a report on Thursday, February 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $152.20.

About Genuine Parts

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Genuine Parts Co engages in the distribution of automotive and industrial replacement parts. It operates through the following segments: Automotive Parts Group, Industrial Parts Group, and Corporate. The Automotive Parts Group segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.