Genuine Parts Company (NYSE:GPC) Shares Sold by Blue Trust Inc.

Blue Trust Inc. decreased its holdings in Genuine Parts Company (NYSE:GPC - Free Report) by 26.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,215 shares of the specialty retailer's stock after selling 2,628 shares during the quarter. Blue Trust Inc.'s holdings in Genuine Parts were worth $860,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Strategic Wealth Partners Ltd. lifted its holdings in shares of Genuine Parts by 4.2% in the fourth quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer's stock valued at $302,000 after purchasing an additional 98 shares in the last quarter. Veracity Capital LLC lifted its holdings in shares of Genuine Parts by 4.9% in the first quarter. Veracity Capital LLC now owns 2,147 shares of the specialty retailer's stock valued at $256,000 after purchasing an additional 100 shares in the last quarter. New York Life Investment Management LLC lifted its holdings in shares of Genuine Parts by 0.6% in the fourth quarter. New York Life Investment Management LLC now owns 18,743 shares of the specialty retailer's stock valued at $2,188,000 after purchasing an additional 108 shares in the last quarter. Pinnacle Financial Partners Inc lifted its holdings in shares of Genuine Parts by 2.5% in the fourth quarter. Pinnacle Financial Partners Inc now owns 4,630 shares of the specialty retailer's stock valued at $541,000 after purchasing an additional 115 shares in the last quarter. Finally, Gallagher Fiduciary Advisors LLC lifted its holdings in shares of Genuine Parts by 4.7% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 2,647 shares of the specialty retailer's stock valued at $309,000 after purchasing an additional 118 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

Wall Street Analyst Weigh In

GPC has been the subject of a number of research analyst reports. Wall Street Zen lowered Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. Evercore ISI reduced their target price on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Argus upgraded Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. Truist Financial increased 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. Finally, The Goldman Sachs Group reiterated a "sell" rating and set a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $130.86.

Genuine Parts Trading Up 0.6%

Genuine Parts stock opened at $119.63 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.15 and a quick ratio of 0.52. The company has a market capitalization of $16.60 billion, a price-to-earnings ratio of 19.64 and a beta of 0.76. Genuine Parts Company has a one year low of $104.01 and a one year high of $149.22. The company's fifty day moving average price is $121.28 and its two-hundred day moving average price is $120.03.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, topping the consensus estimate of $1.66 by $0.09. The firm 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 3.60% and a return on equity of 23.71%. On average, analysts forecast that Genuine Parts Company will post 7.9 earnings per share for the current fiscal 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 given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.44%. The ex-dividend date is Friday, June 6th. Genuine Parts's payout ratio is 67.65%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.