SVB Wealth LLC Takes Position in Genuine Parts (NYSE:GPC)

SVB Wealth LLC bought a new position in shares of Genuine Parts (NYSE:GPC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,615 shares of the specialty retailer’s stock, valued at approximately $422,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Metis Global Partners LLC grew its holdings in Genuine Parts by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock worth $625,000 after acquiring an additional 85 shares in the last quarter. Guardian Wealth Advisors LLC lifted its position in shares of Genuine Parts by 2.7% during the 3rd quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock worth $484,000 after purchasing an additional 91 shares during the last quarter. Marco Investment Management LLC grew its stake in shares of Genuine Parts by 1.2% during the third quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock worth $1,104,000 after purchasing an additional 91 shares in the last quarter. Hartford Financial Management Inc. increased its holdings in Genuine Parts by 0.5% in the fourth quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer’s stock valued at $2,185,000 after buying an additional 99 shares during the last quarter. Finally, Citizens Financial Group Inc. RI boosted its position in shares of Genuine Parts by 2.8% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer’s stock worth $533,000 after acquiring an additional 103 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Activity

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the transaction, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GPC shares. Truist Financial raised their target price on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Northcoast Research cut 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. Loop Capital started coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price target on the stock. Finally, Evercore ISI decreased their price objective on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $137.63.

Genuine Parts Trading Down 0.8 %

NYSE GPC opened at $123.00 on Wednesday. The firm’s fifty day moving average is $119.21 and its two-hundred day moving average is $126.29. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The firm has a market cap of $17.07 billion, a PE ratio of 19.01 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) 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 firm had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the previous year, the firm posted $2.26 EPS. Analysts expect that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The company 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 is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a yield of 3.35%. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio (DPR) is presently 63.68%.

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.