Comerica Bank Sells 2,737 Shares of Genuine Parts (NYSE:GPC)

Comerica Bank lowered its holdings in Genuine Parts (NYSE:GPC - Free Report) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 105,339 shares of the specialty retailer's stock after selling 2,737 shares during the quarter. Comerica Bank owned about 0.08% of Genuine Parts worth $12,299,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Millstone Evans Group LLC bought a new position in shares of Genuine Parts during the fourth quarter valued at about $25,000. Kestra Investment Management LLC bought a new position in shares of Genuine Parts during the 4th quarter worth approximately $28,000. First Command Advisory Services Inc. bought a new position in Genuine Parts in the 4th quarter valued at $28,000. Compass Planning Associates Inc bought a new position in Genuine Parts during the fourth quarter valued at about $29,000. Finally, Synergy Asset Management LLC bought a new position in shares of Genuine Parts during the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 78.83% of the company's stock.

Genuine Parts Stock Performance

NYSE:GPC traded down $1.61 during mid-day trading on Monday, hitting $118.68. 968,710 shares of the company traded hands, compared to its average volume of 1,250,613. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The stock's fifty day moving average price is $118.48 and its 200-day moving average price is $119.58. The firm has a market cap of $16.47 billion, a price-to-earnings ratio of 18.34 and a beta of 0.82. Genuine Parts has a one year low of $104.01 and a one year high of $159.77.

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

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be given a $1.03 dividend. The ex-dividend date is Friday, June 6th. This represents a $4.12 annualized dividend and a dividend yield of 3.47%. Genuine Parts's payout ratio is 67.65%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GPC shares. StockNews.com downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. Truist Financial boosted their price objective on Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Loop Capital initiated coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They issued a "buy" rating and a $155.00 target price on the stock. Evercore ISI cut their price target on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Finally, Northcoast Research downgraded Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $130.86.

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.