Bank of New Hampshire Sells 5,102 Shares of Genuine Parts (NYSE:GPC)

Bank of New Hampshire decreased its holdings in shares of Genuine Parts (NYSE:GPC) by 80.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,239 shares of the specialty retailer’s stock after selling 5,102 shares during the period. Bank of New Hampshire’s holdings in Genuine Parts were worth $172,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GPC. OFI Invest Asset Management bought a new stake in Genuine Parts in the 3rd quarter valued at $25,000. Briaud Financial Planning Inc acquired a new position in shares of Genuine Parts during the 3rd quarter worth about $28,000. Milestone Investment Advisors LLC acquired a new position in shares of Genuine Parts during the 3rd quarter worth about $28,000. Authentikos Wealth Advisory LLC acquired a new position in Genuine Parts in the 3rd quarter valued at about $40,000. Finally, Orion Capital Management LLC acquired a new position in Genuine Parts in the 3rd quarter valued at about $42,000. Institutional investors own 78.83% of the company’s stock.

Insider Activity

In related news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.37% of the company’s stock.

Genuine Parts Price Performance

GPC traded down $0.73 during trading hours on Thursday, hitting $161.07. The company’s stock had a trading volume of 1,449,618 shares, compared to its average volume of 1,068,228. The business’s 50-day moving average price is $151.08 and its 200-day moving average price is $142.62. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $174.91. The stock has a market cap of $22.44 billion, a price-to-earnings ratio of 17.96 and a beta of 0.94. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping the consensus estimate of $2.15 by $0.07. The company had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. Genuine Parts’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.14 earnings per share. Sell-side analysts expect that Genuine Parts will post 9.89 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a dividend of $1.00 per share. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend was Thursday, February 29th. Genuine Parts’s payout ratio is currently 44.59%.

Analysts Set New Price Targets

A number of research analysts have issued reports on GPC shares. Evercore ISI decreased their target price on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 16th. Jefferies Financial Group increased their price objective on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Wedbush reissued 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, April 19th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Finally, Truist Financial increased their price objective on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $173.10.

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.