Hartford Financial Management Inc. Sells 298 Shares of Genuine Parts Company (NYSE:GPC)

Hartford Financial Management Inc. lowered its position in Genuine Parts Company (NYSE:GPC) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,417 shares of the specialty retailer’s stock after selling 298 shares during the quarter. Hartford Financial Management Inc.’s holdings in Genuine Parts were worth $2,194,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Boston Trust Walden Corp raised its stake in shares of Genuine Parts by 2.8% in the first quarter. Boston Trust Walden Corp now owns 369,755 shares of the specialty retailer’s stock valued at $44,053,000 after acquiring an additional 9,932 shares during the period. Global X Japan Co. Ltd. raised its stake in shares of Genuine Parts by 12.3% in the first quarter. Global X Japan Co. Ltd. now owns 5,165 shares of the specialty retailer’s stock valued at $615,000 after acquiring an additional 566 shares during the period. Johnson Investment Counsel Inc. raised its stake in shares of Genuine Parts by 2.8% in the first quarter. Johnson Investment Counsel Inc. now owns 258,866 shares of the specialty retailer’s stock valued at $30,841,000 after acquiring an additional 6,985 shares during the period. State of Alaska Department of Revenue raised its stake in shares of Genuine Parts by 1.1% in the first quarter. State of Alaska Department of Revenue now owns 39,279 shares of the specialty retailer’s stock valued at $4,679,000 after acquiring an additional 425 shares during the period. Finally, CWA Asset Management Group LLC raised its stake in shares of Genuine Parts by 20.0% in the first quarter. CWA Asset Management Group LLC now owns 2,647 shares of the specialty retailer’s stock valued at $315,000 after acquiring an additional 441 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 0.5%

Shares of Genuine Parts stock opened at $118.72 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.15 and a quick ratio of 0.52. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $149.22. The firm’s 50-day moving average is $121.08 and its two-hundred day moving average is $120.14. The stock has a market cap of $16.48 billion, a price-to-earnings ratio of 19.49 and a beta of 0.76.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.09. Genuine Parts had a net margin of 3.60% and a return on equity of 23.71%. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.83 billion. As a group, research analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Friday, June 6th. Genuine Parts’s dividend payout ratio (DPR) is 67.65%.

Analysts Set New Price Targets

Several research firms recently commented on GPC. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Truist Financial raised their price target on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. Evercore ISI reduced their price target on shares of Genuine Parts from $135.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Wall Street Zen downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th. Finally, Argus raised shares of Genuine Parts to a “strong-buy” rating in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $130.86.

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.