Applied Capital LLC FL Acquires 323 Shares of Genuine Parts (NYSE:GPC)

Applied Capital LLC FL increased its holdings in shares of Genuine Parts (NYSE:GPC) by 2.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,958 shares of the specialty retailer’s stock after purchasing an additional 323 shares during the period. Genuine Parts makes up 1.5% of Applied Capital LLC FL’s portfolio, making the stock its 26th biggest position. Applied Capital LLC FL’s holdings in Genuine Parts were worth $1,853,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its holdings in shares of Genuine Parts by 49.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 144,135 shares of the specialty retailer’s stock valued at $22,331,000 after purchasing an additional 47,656 shares in the last quarter. Stephens Consulting LLC lifted its stake in Genuine Parts by 740.7% in the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after acquiring an additional 200 shares in the last quarter. Trilogy Capital Inc. lifted its stake in Genuine Parts by 9.6% in the 1st quarter. Trilogy Capital Inc. now owns 18,739 shares of the specialty retailer’s stock valued at $2,903,000 after acquiring an additional 1,642 shares in the last quarter. WD Rutherford LLC bought a new stake in Genuine Parts in the 1st quarter valued at approximately $26,000. Finally, Hennessy Advisors Inc. bought a new stake in Genuine Parts in the 1st quarter valued at approximately $3,083,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

Shares of GPC stock traded up $2.00 during trading on Tuesday, reaching $135.85. 502,205 shares of the company’s stock were exchanged, compared to its average volume of 990,687. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $18.92 billion, a PE ratio of 15.19 and a beta of 0.92. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $170.57. The firm’s fifty day moving average price is $147.96 and its 200-day moving average price is $146.55.

Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. The business had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The firm’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.14 EPS. As a group, sell-side analysts anticipate that Genuine Parts will post 9.92 EPS for the current year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend was Friday, June 7th. Genuine Parts’s dividend payout ratio is 44.59%.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the transaction, the director now directly owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Truist Financial boosted their target price on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Wedbush restated a “neutral” rating and issued a $170.00 target price (up previously from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, May 24th. Jefferies Financial Group boosted their price target on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Finally, Evercore ISI lowered their price target on Genuine Parts from $165.00 to $160.00 and set an “in-line” rating on the stock in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $169.00.

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.