First Hawaiian Bank Sells 1,319 Shares of Genuine Parts (NYSE:GPC)

First Hawaiian Bank lowered its stake in Genuine Parts (NYSE:GPC) by 21.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,788 shares of the specialty retailer’s stock after selling 1,319 shares during the quarter. First Hawaiian Bank’s holdings in Genuine Parts were worth $559,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Ashton Thomas Securities LLC bought a new stake in Genuine Parts during the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP bought a new stake in shares of Genuine Parts in the third quarter worth $31,000. Concord Wealth Partners increased its holdings in Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 119 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in Genuine Parts in the third quarter valued at $44,000. Finally, Armstrong Advisory Group Inc. increased its holdings in Genuine Parts by 63.8% in the third quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock valued at $51,000 after purchasing an additional 141 shares during the period. Institutional investors own 78.83% of the company’s stock.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the transaction, the director now owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GPC. Truist Financial decreased their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Evercore ISI increased their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a report on Monday, November 11th. The Goldman Sachs Group cut their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Price Performance

GPC stock opened at $115.99 on Friday. The stock has a market capitalization of $16.13 billion, a PE ratio of 14.93 and a beta of 0.95. The company’s 50-day moving average is $120.89 and its 200-day moving average is $131.29. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. Genuine Parts’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $2.49 EPS. Equities research analysts expect that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were given a dividend of $1.00 per share. The ex-dividend date was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.45%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

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.