Twin Tree Management LP Trims Holdings in Genuine Parts (NYSE:GPC)

Twin Tree Management LP cut its holdings in Genuine Parts (NYSE:GPC) by 88.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 697 shares of the specialty retailer’s stock after selling 5,345 shares during the quarter. Twin Tree Management LP’s holdings in Genuine Parts were worth $81,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GPC. Kestra Investment Management LLC purchased a new stake in shares of Genuine Parts in the 4th quarter worth about $28,000. First Command Advisory Services Inc. purchased a new stake in shares of Genuine Parts in the 4th quarter worth about $28,000. Compass Planning Associates Inc purchased a new stake in shares of Genuine Parts in the 4th quarter worth about $29,000. Synergy Asset Management LLC purchased a new stake in shares of Genuine Parts in the 4th quarter worth about $32,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Genuine Parts in the 4th quarter worth about $34,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Price Performance

GPC opened at $124.72 on Thursday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The stock has a market capitalization of $17.31 billion, a P/E ratio of 19.28 and a beta of 0.93. The company’s 50-day simple moving average is $120.84 and its two-hundred day simple moving average is $125.03. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The business had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the prior year, the business earned $2.26 EPS. As a group, analysts predict that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio is 63.68%.

Analysts Set New Price Targets

Several analysts recently commented on GPC shares. Loop Capital started coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective on the stock. Truist Financial increased their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Evercore ISI cut their price objective on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Finally, Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Eight equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $137.63.

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.