Genuine Parts (NYSE:GPC) Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB trimmed its stake in shares of Genuine Parts (NYSE:GPC) by 7.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,300 shares of the specialty retailer’s stock after selling 500 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Genuine Parts were worth $751,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in shares of Genuine Parts by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer’s stock valued at $257,124,000 after acquiring an additional 114,180 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Genuine Parts by 45.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,140 shares of the specialty retailer’s stock valued at $2,356,000 after purchasing an additional 6,326 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Genuine Parts by 66.8% during the 4th quarter. State of Alaska Department of Revenue now owns 38,854 shares of the specialty retailer’s stock valued at $4,536,000 after purchasing an additional 15,563 shares during the period. Financial Advocates Investment Management grew its position in Genuine Parts by 49.1% in the 4th quarter. Financial Advocates Investment Management now owns 6,095 shares of the specialty retailer’s stock worth $712,000 after purchasing an additional 2,006 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Genuine Parts by 5.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 404,470 shares of the specialty retailer’s stock valued at $47,226,000 after purchasing an additional 19,444 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Trading Down 0.6%

NYSE:GPC opened at $125.36 on Friday. The stock has a fifty day simple moving average of $119.68 and a 200 day simple moving average of $120.36. The firm has a market capitalization of $17.40 billion, a price-to-earnings ratio of 19.38 and a beta of 0.76. Genuine Parts has a 1-year low of $104.01 and a 1-year high of $149.22. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, topping the consensus estimate of $1.66 by $0.09. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The company had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.83 billion. Sell-side analysts forecast that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $4.12 annualized dividend and a yield of 3.29%. Genuine Parts’s dividend payout ratio (DPR) is presently 67.65%.

Wall Street Analyst Weigh In

GPC has been the topic of several analyst reports. Evercore ISI lowered their target price on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Truist Financial raised their price target on Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Argus upgraded shares of Genuine Parts to a “strong-buy” rating in a research note on Friday, April 25th. The Goldman Sachs Group reiterated a “sell” rating and issued a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Finally, Wall Street Zen cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $130.86.

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.