Bank of America Corp DE Has $185.92 Million Holdings in Genuine Parts (NYSE:GPC)

Bank of America Corp DE lowered its holdings in Genuine Parts (NYSE:GPC - Free Report) by 15.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,592,319 shares of the specialty retailer's stock after selling 285,106 shares during the period. Bank of America Corp DE owned approximately 1.15% of Genuine Parts worth $185,919,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Genuine Parts during the 4th quarter valued at $206,645,000. Equity Investment Corp bought a new stake in Genuine Parts during the fourth quarter worth about $84,128,000. Alyeska Investment Group L.P. grew its stake in Genuine Parts by 204.7% during the fourth quarter. Alyeska Investment Group L.P. now owns 789,050 shares of the specialty retailer's stock worth $92,129,000 after buying an additional 530,057 shares in the last quarter. Invesco Ltd. increased its holdings in Genuine Parts by 18.9% in the 4th quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock valued at $380,898,000 after buying an additional 518,851 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Genuine Parts during the fourth quarter worth $57,407,000. Institutional investors and hedge funds own 78.83% of the company's stock.

Genuine Parts Trading Down 0.2 %

Shares of GPC stock traded down $0.23 during trading hours on Friday, hitting $117.35. 769,734 shares of the company's stock traded hands, compared to its average volume of 1,253,051. The stock has a market cap of $16.29 billion, a PE ratio of 18.14 and a beta of 0.76. The stock's 50 day simple moving average is $117.95 and its 200 day simple moving average is $119.46. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. Genuine Parts has a 12 month low of $104.01 and a 12 month high of $158.65.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.09. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.83 billion. On average, sell-side analysts anticipate that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th will be issued a $1.03 dividend. The ex-dividend date is Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a yield of 3.51%. Genuine Parts's payout ratio is currently 67.65%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GPC shares. The Goldman Sachs Group reissued a "sell" rating and set a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Argus raised Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. Truist Financial raised their price target on shares of Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Loop Capital initiated coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a "buy" rating and a $155.00 price objective for the company. Finally, Northcoast Research lowered shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $130.86.

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.