Probity Advisors Inc. Sells 81 Shares of Genuine Parts (NYSE:GPC)

Probity Advisors Inc. lowered its stake in shares of Genuine Parts (NYSE:GPCGet Rating) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,885 shares of the specialty retailer’s stock after selling 81 shares during the period. Probity Advisors Inc.’s holdings in Genuine Parts were worth $825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the company. Rhumbline Advisers raised its position in shares of Genuine Parts by 1.2% during the fourth quarter. Rhumbline Advisers now owns 230,788 shares of the specialty retailer’s stock valued at $32,356,000 after buying an additional 2,695 shares during the last quarter. Vaughan David Investments LLC IL raised its position in shares of Genuine Parts by 0.3% during the fourth quarter. Vaughan David Investments LLC IL now owns 260,929 shares of the specialty retailer’s stock valued at $36,582,000 after buying an additional 894 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Genuine Parts by 3.3% during the fourth quarter. JPMorgan Chase & Co. now owns 1,516,848 shares of the specialty retailer’s stock valued at $212,664,000 after buying an additional 48,510 shares during the last quarter. Regal Investment Advisors LLC raised its position in shares of Genuine Parts by 4.2% during the fourth quarter. Regal Investment Advisors LLC now owns 3,162 shares of the specialty retailer’s stock valued at $443,000 after buying an additional 128 shares during the last quarter. Finally, Confluence Wealth Services Inc. bought a new stake in shares of Genuine Parts during the fourth quarter valued at approximately $147,000. Hedge funds and other institutional investors own 76.92% of the company’s stock.

NYSE GPC traded up $2.08 on Friday, hitting $134.78. 627,972 shares of the stock were exchanged, compared to its average volume of 718,648. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.58 and a current ratio of 1.16. The stock has a fifty day moving average price of $129.69 and a two-hundred day moving average price of $131.59. The firm has a market capitalization of $19.08 billion, a P/E ratio of 20.86, a P/E/G ratio of 2.96 and a beta of 1.00. Genuine Parts has a 52-week low of $115.63 and a 52-week high of $142.97.

Genuine Parts (NYSE:GPCGet Rating) last posted its quarterly earnings data on Thursday, April 21st. The specialty retailer reported $1.86 EPS for the quarter, topping the consensus estimate of $1.70 by $0.16. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.08 billion. Genuine Parts had a net margin of 4.71% and a return on equity of 30.84%. Genuine Parts’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.50 earnings per share. Sell-side analysts expect that Genuine Parts will post 7.84 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 3rd will be paid a dividend of $0.895 per share. This represents a $3.58 annualized dividend and a yield of 2.66%. The ex-dividend date is Thursday, June 2nd. Genuine Parts’s payout ratio is 55.42%.

A number of research analysts recently weighed in on the stock. Bank of America raised shares of Genuine Parts from an “underperform” rating to a “neutral” rating and set a $133.00 target price for the company in a report on Tuesday. They noted that the move was a valuation call. StockNews.com assumed coverage on shares of Genuine Parts in a report on Thursday, March 31st. They issued a “strong-buy” rating for the company. Finally, Wedbush reissued a “neutral” rating on shares of Genuine Parts in a report on Friday, February 18th. Five research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $139.25.

Genuine Parts Profile (Get Rating)

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.

See Also

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

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