Genuine Parts (NYSE:GPC) Stock Position Trimmed by Toronto Dominion Bank

Toronto Dominion Bank cut its position in Genuine Parts (NYSE:GPC) by 13.4% during the 1st quarter, HoldingsChannel reports. The firm owned 79,117 shares of the specialty retailer’s stock after selling 12,267 shares during the quarter. Toronto Dominion Bank’s holdings in Genuine Parts were worth $12,258,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Assetmark Inc. raised its position in shares of Genuine Parts by 109.1% during the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after buying an additional 96 shares in the last quarter. WD Rutherford LLC bought a new stake in shares of Genuine Parts during the 1st quarter worth about $26,000. Union Savings Bank raised its position in shares of Genuine Parts by 100.0% during the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after buying an additional 100 shares in the last quarter. Thompson Investment Management Inc. bought a new stake in shares of Genuine Parts during the 1st quarter worth about $35,000. Finally, Stephens Consulting LLC raised its position in shares of Genuine Parts by 740.7% during the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after buying an additional 200 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Trading Up 3.0 %

Shares of Genuine Parts stock traded up $4.10 during trading on Friday, hitting $142.07. The stock had a trading volume of 988,166 shares, compared to its average volume of 1,026,128. The stock has a 50 day simple moving average of $140.29 and a 200 day simple moving average of $146.28. The company has a market capitalization of $19.79 billion, a PE ratio of 15.84 and a beta of 0.92. The company has a quick ratio of 0.59, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $164.45.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.59 by ($0.15). The firm had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business’s revenue was up .8% on a year-over-year basis. During the same period last year, the business earned $2.44 earnings per share. On average, research analysts expect that Genuine Parts will post 9.36 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 7th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend was Friday, June 7th. Genuine Parts’s dividend payout ratio (DPR) is currently 44.59%.

Analyst Ratings Changes

A number of analysts have commented on GPC shares. Jefferies Financial Group boosted their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Wedbush lowered their price objective on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday. Truist Financial lowered their price objective on shares of Genuine Parts from $183.00 to $164.00 and set a “buy” rating on the stock in a research note on Tuesday. The Goldman Sachs Group lowered their price objective on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Evercore ISI lowered their price objective on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research note on Wednesday. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $161.14.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the completion of the sale, the director now directly owns 13,006 shares in the company, valued at $1,967,677.74. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.37% of the stock is currently owned by corporate insiders.

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.