Livforsakringsbolaget Skandia Omsesidigt Has $1.11 Million Position in Genuine Parts (NYSE:GPC)

Livforsakringsbolaget Skandia Omsesidigt lessened its position in shares of Genuine Parts (NYSE:GPC - Free Report) by 25.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,224 shares of the specialty retailer's stock after selling 3,100 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Genuine Parts were worth $1,110,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Millstone Evans Group LLC acquired a new stake in Genuine Parts during the fourth quarter worth $25,000. Kestra Investment Management LLC acquired a new stake in shares of Genuine Parts during the 4th quarter valued at about $28,000. First Command Advisory Services Inc. bought a new stake in Genuine Parts in the fourth quarter valued at about $28,000. Compass Planning Associates Inc bought a new stake in Genuine Parts in the fourth quarter valued at about $29,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Genuine Parts in the fourth quarter worth about $33,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Trading Up 1.0%

Shares of GPC traded up $1.25 during trading hours on Tuesday, hitting $126.50. 1,063,035 shares of the stock traded hands, compared to its average volume of 1,288,397. The business has a fifty day moving average of $119.78 and a 200-day moving average of $120.34. The firm has a market capitalization of $17.56 billion, a PE ratio of 19.55 and a beta of 0.76. Genuine Parts has a 1-year low of $104.01 and a 1-year high of $149.22. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly 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. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The company had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.83 billion. Analysts expect that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently declared 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 of this dividend is Friday, June 6th. This represents a $4.12 annualized dividend and a dividend yield of 3.26%. Genuine Parts's dividend payout ratio is currently 67.65%.

Analysts Set New Price Targets

Several research firms have recently weighed in on GPC. Truist Financial upped their price objective on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. The Goldman Sachs Group reiterated a "sell" rating and issued a $114.00 price target (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Evercore ISI cut their price objective on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Wall Street Zen lowered shares of Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. Finally, Argus raised shares of Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $130.86.

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.