Capital Investment Counsel Inc Has $213,000 Position in Genuine Parts (NYSE:GPC)

Capital Investment Counsel Inc raised its stake in shares of Genuine Parts (NYSE:GPC) by 24.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,820 shares of the specialty retailer’s stock after acquiring an additional 360 shares during the quarter. Capital Investment Counsel Inc’s holdings in Genuine Parts were worth $213,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Concurrent Investment Advisors LLC lifted its holdings in shares of Genuine Parts by 6.5% during the fourth quarter. Concurrent Investment Advisors LLC now owns 13,367 shares of the specialty retailer’s stock valued at $1,561,000 after acquiring an additional 813 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of Genuine Parts by 16.6% during the fourth quarter. Handelsbanken Fonder AB now owns 90,913 shares of the specialty retailer’s stock valued at $10,615,000 after acquiring an additional 12,945 shares during the period. Bank of Jackson Hole Trust bought a new position in shares of Genuine Parts during the fourth quarter valued at $413,000. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in shares of Genuine Parts by 32.5% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 5,466 shares of the specialty retailer’s stock valued at $638,000 after buying an additional 1,341 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new position in shares of Genuine Parts in the fourth quarter valued at about $28,000. 78.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Evercore ISI cut their price target on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday. Redburn Atlantic raised Genuine Parts to a “hold” rating in a report on Monday, November 11th. Loop Capital assumed coverage on Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. Finally, Truist Financial lifted their price target on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday. Eight research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $137.63.

Genuine Parts Price Performance

Genuine Parts stock opened at $121.68 on Friday. The firm has a market capitalization of $16.92 billion, a P/E ratio of 18.81 and a beta of 0.94. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The business has a 50-day moving average of $118.29 and a 200-day moving average of $127.16. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86.

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, topping 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 company had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same period in the previous year, the company earned $2.26 EPS. On average, equities analysts anticipate that Genuine Parts will post 7.91 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. Investors of record on Friday, March 7th will be given a $1.03 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a dividend yield of 3.39%. Genuine Parts’s payout ratio is currently 61.82%.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the transaction, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.37% of the stock is owned by insiders.

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.