Lockerman Financial Group Inc. Invests $207,000 in Genuine Parts (NYSE:GPC)

Lockerman Financial Group Inc. acquired a new position in Genuine Parts (NYSE:GPC) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,335 shares of the specialty retailer’s stock, valued at approximately $207,000.

Other hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. lifted its stake in Genuine Parts by 109.1% in the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after acquiring an additional 96 shares during the period. Thompson Investment Management Inc. purchased a new stake in Genuine Parts in the first quarter worth about $35,000. Bruce G. Allen Investments LLC lifted its stake in Genuine Parts by 149.0% in the first quarter. Bruce G. Allen Investments LLC now owns 254 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 152 shares during the period. Quarry LP lifted its stake in Genuine Parts by 138.7% in the fourth quarter. Quarry LP now owns 284 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 165 shares during the period. Finally, Orion Capital Management LLC purchased a new stake in Genuine Parts in the third quarter worth about $42,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on GPC. Truist Financial upped their price objective on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, May 24th. Jefferies Financial Group increased their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Evercore ISI increased their price target on shares of Genuine Parts from $160.00 to $165.00 and gave the company an “in-line” rating in a research report on Thursday, June 20th. Finally, Wedbush reissued a “neutral” rating and set a $170.00 price target (up from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $172.44.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the sale, the director now owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Genuine Parts Stock Performance

NYSE:GPC traded up $0.72 during midday trading on Friday, hitting $138.12. The company’s stock had a trading volume of 60,317 shares, compared to its average volume of 982,738. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $170.57. The firm’s 50 day moving average is $149.03 and its 200-day moving average is $146.43. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. The firm has a market cap of $19.24 billion, a P/E ratio of 15.32 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The company had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same quarter in the prior year, the company earned $2.14 EPS. Genuine Parts’s quarterly revenue was up .3% on a year-over-year basis. Equities analysts anticipate that Genuine Parts will post 9.92 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.00 annualized dividend and a yield of 2.90%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

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.