Whittier Trust Co. of Nevada Inc. Sells 705 Shares of Genuine Parts (NYSE:GPC)

Whittier Trust Co. of Nevada Inc. trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 14.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,316 shares of the specialty retailer’s stock after selling 705 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Genuine Parts were worth $597,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its position in Genuine Parts by 7.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,707,699 shares of the specialty retailer’s stock valued at $353,436,000 after buying an additional 185,913 shares during the period. Stifel Financial Corp grew its position in Genuine Parts by 27.0% during the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after buying an additional 431,623 shares during the period. Norges Bank bought a new stake in Genuine Parts during the fourth quarter valued at approximately $215,643,000. Dimensional Fund Advisors LP grew its position in Genuine Parts by 13.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,081,344 shares of the specialty retailer’s stock valued at $149,766,000 after buying an additional 129,472 shares during the period. Finally, Morningstar Investment Services LLC grew its position in Genuine Parts by 161.2% during the fourth quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock valued at $80,066,000 after buying an additional 357,091 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. The Goldman Sachs Group lowered their price target on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. UBS Group lowered their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Thursday. Wedbush lowered their price target on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Finally, Truist Financial reaffirmed a “buy” rating and set a $164.00 price target on shares of Genuine Parts in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $142.28 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. The firm has a fifty day moving average price of $139.02 and a 200 day moving average price of $146.23. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $164.45. The firm has a market cap of $19.82 billion, a price-to-earnings ratio of 15.86 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. During the same quarter in the prior year, the company posted $2.44 EPS. Genuine Parts’s revenue was up .8% compared to the same quarter last year. As a group, sell-side analysts expect that Genuine Parts will post 9.36 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.81%. Genuine Parts’s dividend payout ratio is 44.59%.

Genuine Parts Company 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.