Rodgers Brothers Inc. Cuts Position in Genuine Parts (NYSE:GPC)

Rodgers Brothers Inc. decreased its holdings in Genuine Parts (NYSE:GPC) by 47.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,977 shares of the specialty retailer’s stock after selling 14,420 shares during the quarter. Rodgers Brothers Inc.’s holdings in Genuine Parts were worth $1,847,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. IronBridge Private Wealth LLC purchased a new position in Genuine Parts in the fourth quarter worth $26,000. Hexagon Capital Partners LLC raised its position in Genuine Parts by 179.3% in the first quarter. Hexagon Capital Partners LLC now owns 243 shares of the specialty retailer’s stock worth $28,000 after acquiring an additional 156 shares in the last quarter. E Fund Management Co. Ltd. purchased a new position in Genuine Parts in the first quarter worth $29,000. Penserra Capital Management LLC raised its position in Genuine Parts by 49.5% in the fourth quarter. Penserra Capital Management LLC now owns 305 shares of the specialty retailer’s stock worth $30,000 after acquiring an additional 101 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in Genuine Parts in the first quarter worth $44,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Genuine Parts stock traded down $1.29 during midday trading on Thursday, reaching $127.88. 18,359 shares of the company were exchanged, compared to its average volume of 509,278. The firm has a market capitalization of $18.47 billion, a P/E ratio of 379.92, a price-to-earnings-growth ratio of 2.96 and a beta of 1.11. The company’s 50-day moving average is $128.47. Genuine Parts has a 1 year low of $87.04 and a 1 year high of $135.93. The company has a quick ratio of 0.64, a current ratio of 1.21 and a debt-to-equity ratio of 0.74.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Wednesday, April 21st. The specialty retailer reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.36. The firm had revenue of $4.50 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Genuine Parts had a return on equity of 27.80% and a net margin of 0.31%. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 EPS. On average, sell-side analysts expect that Genuine Parts will post 6.08 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 1st. Investors of record on Friday, June 4th were given a dividend of $0.815 per share. This represents a $3.26 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date was Thursday, June 3rd. Genuine Parts’s dividend payout ratio is presently 61.86%.

In related news, insider Kevin Herron sold 2,500 shares of Genuine Parts stock in a transaction dated Friday, May 21st. The stock was sold at an average price of $132.31, for a total transaction of $330,775.00. Following the completion of the sale, the insider now owns 13,754 shares in the company, valued at approximately $1,819,791.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.50% of the company’s stock.

Several research analysts have issued reports on the company. TheStreet upgraded Genuine Parts from a “c+” rating to a “b” rating in a research report on Monday, April 26th. Argus raised their price target on Genuine Parts from $109.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, April 28th. Zacks Investment Research upgraded Genuine Parts from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a research report on Tuesday, April 20th. The Goldman Sachs Group upgraded Genuine Parts from a “sell” rating to a “neutral” rating and raised their price target for the company from $113.00 to $125.00 in a research report on Tuesday, May 4th. Finally, Royal Bank of Canada raised their price target on Genuine Parts from $115.00 to $129.00 and gave the company a “sector perform” rating in a research report on Friday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $127.50.

Genuine Parts Profile

Genuine Parts Co engages in the distribution of automotive and industrial replacement parts. It operates through the following segments: Automotive Parts Group and Industrial Parts Group. The Automotive Parts Group segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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