Ashton Thomas Private Wealth LLC Has $374,000 Holdings in Genuine Parts (NYSE:GPC)

Ashton Thomas Private Wealth LLC raised its holdings in Genuine Parts (NYSE:GPC) by 23.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,180 shares of the specialty retailer’s stock after acquiring an additional 598 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Genuine Parts were worth $374,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GPC. Ashton Thomas Securities LLC acquired a new position in Genuine Parts in the third quarter valued at approximately $26,000. Kestra Investment Management LLC acquired a new position in Genuine Parts in the fourth quarter valued at approximately $28,000. First Command Advisory Services Inc. acquired a new position in Genuine Parts in the fourth quarter valued at approximately $28,000. Compass Planning Associates Inc acquired a new position in Genuine Parts in the fourth quarter valued at approximately $29,000. Finally, Capital Performance Advisors LLP acquired a new position in Genuine Parts in the third quarter valued at approximately $31,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Redburn Atlantic upgraded 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 set a “buy” rating and a $155.00 price objective for the company. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Truist Financial boosted their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, Evercore ISI decreased their price objective on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Eight investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Genuine Parts presently has an average rating of “Hold” and a consensus price target of $137.63.

Genuine Parts Trading Up 1.6 %

Shares of Genuine Parts stock opened at $129.20 on Tuesday. The stock has a fifty day simple moving average of $120.01 and a 200 day simple moving average of $125.89. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The company has a market capitalization of $17.93 billion, a P/E ratio of 19.97 and a beta of 0.93. 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 announced its quarterly 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 business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the prior year, the company posted $2.26 earnings per share. On average, sell-side analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be issued a dividend of $1.03 per share. The ex-dividend date is Friday, March 7th. This represents a $4.12 annualized dividend and a yield of 3.19%. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio is 63.68%.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction 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 owns 11,357 shares in the company, valued at $1,371,698.46. This represents a 12.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.37% of the company’s stock.

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.