Swiss National Bank Has $45.95 Million Holdings in Genuine Parts (NYSE:GPC)

Swiss National Bank lessened its position in shares of Genuine Parts (NYSE:GPC) by 4.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 393,500 shares of the specialty retailer’s stock after selling 19,400 shares during the quarter. Swiss National Bank’s holdings in Genuine Parts were worth $45,945,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GPC. Truvestments Capital LLC acquired a new stake in shares of Genuine Parts during the 4th quarter worth approximately $93,000. HighTower Advisors LLC grew its position in shares of Genuine Parts by 21.5% during the 4th quarter. HighTower Advisors LLC now owns 127,872 shares of the specialty retailer’s stock worth $14,930,000 after buying an additional 22,585 shares during the period. Wealthfront Advisers LLC grew its position in shares of Genuine Parts by 796.3% during the 4th quarter. Wealthfront Advisers LLC now owns 66,290 shares of the specialty retailer’s stock worth $7,740,000 after buying an additional 58,894 shares during the period. Avantax Planning Partners Inc. grew its position in shares of Genuine Parts by 2.9% during the 4th quarter. Avantax Planning Partners Inc. now owns 16,190 shares of the specialty retailer’s stock worth $1,890,000 after buying an additional 450 shares during the period. Finally, Inspire Advisors LLC grew its position in shares of Genuine Parts by 13.2% during the 4th quarter. Inspire Advisors LLC now owns 4,217 shares of the specialty retailer’s stock worth $492,000 after buying an additional 491 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $122.16 on Monday. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The stock’s fifty day simple moving average is $120.41 and its two-hundred day simple moving average is $125.30. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The stock has a market cap of $16.95 billion, a PE ratio of 18.88 and a beta of 0.93.

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

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. The ex-dividend date is Friday, March 7th. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 3.37%. Genuine Parts’s dividend payout ratio (DPR) is 63.68%.

Analyst Ratings Changes

Several brokerages have recently commented on GPC. Loop Capital began 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 for the company. Truist Financial increased their target price on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Evercore ISI cut their target price on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Finally, Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Genuine Parts currently has a consensus rating of “Hold” and an average target price of $137.63.

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.