MainStreet Investment Advisors LLC Has $4.56 Million Stock Position in Genuine Parts (NYSE:GPC)

MainStreet Investment Advisors LLC trimmed its position in Genuine Parts (NYSE:GPC - Free Report) by 6.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,043 shares of the specialty retailer's stock after selling 2,737 shares during the period. MainStreet Investment Advisors LLC's holdings in Genuine Parts were worth $4,559,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GPC. Millstone Evans Group LLC bought a new stake in shares of Genuine Parts in the 4th quarter worth approximately $25,000. Kestra Investment Management LLC bought a new position in Genuine Parts during the 4th quarter worth $28,000. First Command Advisory Services Inc. acquired a new stake in Genuine Parts in the fourth quarter worth $28,000. Compass Planning Associates Inc bought a new stake in Genuine Parts in the fourth quarter valued at $29,000. Finally, Synergy Asset Management LLC acquired a new position in shares of Genuine Parts during the fourth quarter valued at $32,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Price Performance

Shares of GPC stock traded up $1.19 during mid-day trading on Friday, hitting $128.67. 2,063,023 shares of the stock traded hands, compared to its average volume of 1,273,165. Genuine Parts has a twelve month low of $104.01 and a twelve month high of $154.84. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The company's 50-day simple moving average is $117.81 and its 200-day simple moving average is $119.70. The firm has a market cap of $17.86 billion, a price-to-earnings ratio of 19.89 and a beta of 0.76.

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

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Friday, June 6th. Genuine Parts's dividend payout ratio is presently 67.65%.

Analyst Ratings Changes

GPC has been the topic of a number of analyst reports. Northcoast Research cut shares of Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. The Goldman Sachs Group restated a "sell" rating and issued a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Evercore ISI reduced their price objective on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Truist Financial raised their target price on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Finally, Argus upgraded Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. One equities research 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 company. According to MarketBeat.com, Genuine Parts 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.