237 Shares in Genuine Parts (NYSE:GPC) Acquired by Kestra Investment Management LLC

Kestra Investment Management LLC bought a new position in shares of Genuine Parts (NYSE:GPC) during the fourth quarter, Holdings Channel reports. The fund bought 237 shares of the specialty retailer’s stock, valued at approximately $28,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC bought a new stake in shares of Genuine Parts in the third quarter worth $26,000. Capital Performance Advisors LLP bought a new stake in shares of Genuine Parts in the 3rd quarter valued at about $31,000. Concord Wealth Partners increased its stake in shares of Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 119 shares during the period. Synergy Asset Management LLC bought a new position in shares of Genuine Parts during the fourth quarter worth about $32,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Genuine Parts during the third quarter worth about $44,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Truist Financial increased their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday. Loop Capital initiated 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. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Finally, Evercore ISI lowered their price objective on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research report on Wednesday. Eight investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $137.63.

Genuine Parts Trading Down 1.3 %

GPC opened at $121.68 on Friday. The company has a market cap of $16.92 billion, a P/E ratio of 18.81 and a beta of 0.94. The company has a fifty day moving average price of $118.29 and a two-hundred day moving average price of $127.07. 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 has a 1-year low of $112.74 and a 1-year high of $164.45.

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

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be given a dividend of $1.03 per share. The ex-dividend date is Friday, March 7th. This is an increase 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 presently 63.68%.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the transaction, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.37% of the stock is currently owned by company insiders.

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.