Bank of New Hampshire Trims Stock Holdings in Genuine Parts (NYSE:GPC)

Bank of New Hampshire cut its position in Genuine Parts (NYSE:GPC - Free Report) by 80.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,239 shares of the specialty retailer's stock after selling 5,102 shares during the quarter. Bank of New Hampshire's holdings in Genuine Parts were worth $172,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Axxcess Wealth Management LLC grew its stake in shares of Genuine Parts by 5.0% in the third quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer's stock valued at $223,000 after buying an additional 74 shares in the last quarter. Financial Counselors Inc. lifted its holdings in Genuine Parts by 0.3% during the 3rd quarter. Financial Counselors Inc. now owns 22,476 shares of the specialty retailer's stock valued at $3,245,000 after purchasing an additional 76 shares during the last quarter. Balentine LLC lifted its holdings in Genuine Parts by 2.2% during the 3rd quarter. Balentine LLC now owns 3,550 shares of the specialty retailer's stock valued at $513,000 after purchasing an additional 76 shares during the last quarter. Grimes & Company Inc. lifted its holdings in Genuine Parts by 2.5% during the 4th quarter. Grimes & Company Inc. now owns 3,178 shares of the specialty retailer's stock valued at $440,000 after purchasing an additional 79 shares during the last quarter. Finally, Fiera Capital Corp lifted its holdings in Genuine Parts by 2.7% during the 3rd quarter. Fiera Capital Corp now owns 3,080 shares of the specialty retailer's stock valued at $445,000 after purchasing an additional 80 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the business's stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the sale, the director now directly owns 14,397 shares in the company, valued at $2,230,383.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.37% of the company's stock.

Genuine Parts Price Performance

Shares of NYSE GPC traded down $0.73 during mid-day trading on Thursday, reaching $161.07. The company had a trading volume of 1,449,618 shares, compared to its average volume of 1,069,742. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. Genuine Parts has a one year low of $126.35 and a one year high of $174.91. The firm has a market cap of $22.44 billion, a price-to-earnings ratio of 17.96 and a beta of 0.94. The business's 50-day simple moving average is $151.44 and its 200 day simple moving average is $142.76.

Genuine Parts (NYSE:GPC - Get Free Report) last released its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The firm had revenue of $5.78 billion for the quarter, compared to analysts' expectations of $5.84 billion. During the same quarter in the previous year, the business posted $2.14 earnings per share. The business's revenue for the quarter was up .3% on a year-over-year basis. On average, research analysts predict that Genuine Parts will post 9.89 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date was Thursday, February 29th. This is a boost from Genuine Parts's previous quarterly dividend of $0.95. Genuine Parts's payout ratio is currently 44.59%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GPC shares. Jefferies Financial Group raised their price target on Genuine Parts from $150.00 to $170.00 and gave the company a "hold" rating in a report on Friday, April 19th. StockNews.com raised Genuine Parts from a "hold" rating to a "buy" rating in a report on Friday, April 5th. Wedbush reaffirmed a "neutral" rating and set a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Evercore ISI dropped their target price on Genuine Parts from $160.00 to $155.00 and set an "in-line" rating for the company in a report on Tuesday, April 16th. Finally, Truist Financial lifted their target price on Genuine Parts from $167.00 to $183.00 and gave the stock a "buy" rating in a report on Friday, April 19th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $173.10.

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.