Harbour Investments Inc. Sells 134 Shares of Genuine Parts (NYSE:GPC)

Harbour Investments Inc. trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 13.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 842 shares of the specialty retailer’s stock after selling 134 shares during the period. Harbour Investments Inc.’s holdings in Genuine Parts were worth $98,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Quantinno Capital Management LP raised its position in shares of Genuine Parts by 74.0% during the 3rd quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock valued at $1,580,000 after acquiring an additional 4,809 shares during the last quarter. Caprock Group LLC acquired a new stake in shares of Genuine Parts during the fourth quarter worth $540,000. Verity & Verity LLC increased its holdings in Genuine Parts by 9.7% in the fourth quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock valued at $12,198,000 after purchasing an additional 9,199 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Genuine Parts in the fourth quarter valued at about $21,840,000. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in Genuine Parts by 23.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 303,676 shares of the specialty retailer’s stock worth $42,417,000 after buying an additional 56,776 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Trading Down 1.5 %

GPC opened at $118.93 on Monday. The stock has a market capitalization of $16.50 billion, a P/E ratio of 18.38 and a beta of 0.93. 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 has a 12 month low of $112.74 and a 12 month high of $164.45. The firm’s fifty day simple moving average is $120.99 and its 200 day simple moving average is $124.58.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same period in the previous year, the company posted $2.26 earnings per share. As a group, research analysts anticipate that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts’s dividend payout ratio (DPR) is currently 63.68%.

Analyst Ratings Changes

A number of analysts have recently commented on GPC shares. Truist Financial upped their price target on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Evercore ISI reduced their price target on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Finally, Loop Capital assumed coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective for the company. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $137.63.

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.