OLD National Bancorp IN Has $505,000 Position in Genuine Parts (NYSE:GPC)

OLD National Bancorp IN lessened its holdings in shares of Genuine Parts (NYSE:GPC) by 19.6% in the first quarter, HoldingsChannel.com reports. The firm owned 4,238 shares of the specialty retailer’s stock after selling 1,032 shares during the period. OLD National Bancorp IN’s holdings in Genuine Parts were worth $505,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Genuine Parts by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer’s stock worth $391,604,000 after acquiring an additional 65,783 shares in the last quarter. Invesco Ltd. lifted its position in Genuine Parts by 18.9% in the 4th quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer’s stock valued at $380,898,000 after acquiring an additional 518,851 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Genuine Parts by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer’s stock valued at $337,428,000 after purchasing an additional 145,960 shares during the last quarter. Stifel Financial Corp increased its holdings in Genuine Parts by 21.6% during the 4th quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer’s stock worth $292,233,000 after purchasing an additional 445,259 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Genuine Parts by 5.1% during the 4th quarter. Ameriprise Financial Inc. now owns 2,136,214 shares of the specialty retailer’s stock worth $249,426,000 after purchasing an additional 104,343 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Trading Down 0.0%

NYSE GPC opened at $125.24 on Tuesday. The business’s fifty day moving average is $119.78 and its 200-day moving average is $120.34. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The stock has a market capitalization of $17.38 billion, a price-to-earnings ratio of 19.36 and a beta of 0.76. Genuine Parts has a one year low of $104.01 and a one year high of $149.22.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data 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. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.83 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. Equities research analysts predict that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders 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 dividend yield of 3.29%. Genuine Parts’s payout ratio is currently 67.65%.

Analysts Set New Price Targets

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

About Genuine Parts

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.