Genuine Parts (NYSE:GPC) Shares Sold by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. trimmed its position in Genuine Parts (NYSE:GPC) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,105 shares of the specialty retailer’s stock after selling 415 shares during the period. ZWJ Investment Counsel Inc.’s holdings in Genuine Parts were worth $3,339,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Genuine Parts by 2.9% in the first quarter. Vanguard Group Inc. now owns 17,088,101 shares of the specialty retailer’s stock valued at $2,153,442,000 after acquiring an additional 481,039 shares in the last quarter. State Street Corp boosted its stake in Genuine Parts by 2.4% in the first quarter. State Street Corp now owns 7,189,643 shares of the specialty retailer’s stock valued at $1,209,476,000 after acquiring an additional 171,000 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Genuine Parts by 4.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,860,574 shares of the specialty retailer’s stock valued at $612,531,000 after acquiring an additional 185,529 shares in the last quarter. Geode Capital Management LLC boosted its stake in Genuine Parts by 1.3% in the first quarter. Geode Capital Management LLC now owns 2,977,671 shares of the specialty retailer’s stock valued at $497,089,000 after acquiring an additional 36,774 shares in the last quarter. Finally, Imprint Wealth LLC boosted its stake in Genuine Parts by 16,507.5% in the second quarter. Imprint Wealth LLC now owns 2,611,194 shares of the specialty retailer’s stock valued at $261,119,000 after acquiring an additional 2,595,471 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

Shares of Genuine Parts stock traded up $2.16 during trading on Friday, hitting $162.39. 3,396,347 shares of the company’s stock were exchanged, compared to its average volume of 1,057,966. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.63 and a current ratio of 1.23. The business has a 50-day simple moving average of $150.30 and a 200-day simple moving average of $142.34. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $174.91. The stock has a market capitalization of $22.64 billion, a price-to-earnings ratio of 17.41 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.07. Genuine Parts had a net margin of 5.70% and a return on equity of 31.64%. The firm had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter last year, the company posted $2.14 earnings per share. The firm’s revenue was up .3% compared to the same quarter last year. On average, research analysts forecast that Genuine Parts will post 9.66 EPS for the current year.

Genuine Parts Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on GPC shares. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Evercore ISI lowered their price objective on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research note on Tuesday. Wedbush reiterated a “neutral” rating and set a $170.00 price objective (up from $140.00) on shares of Genuine Parts in a research note on Friday. Truist Financial lifted their price objective on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Jefferies Financial Group lifted their price objective on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Genuine Parts currently has an average rating of “Hold” and an average price target of $173.10.

Insider Buying and Selling at Genuine Parts

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

Genuine Parts Company 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.