OLD Point Trust & Financial Services N A Buys 400 Shares of Genuine Parts (NYSE:GPC)

OLD Point Trust & Financial Services N A raised its stake in shares of Genuine Parts (NYSE:GPC) by 11.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,860 shares of the specialty retailer’s stock after purchasing an additional 400 shares during the period. OLD Point Trust & Financial Services N A’s holdings in Genuine Parts were worth $451,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kestra Investment Management LLC bought a new position in shares of Genuine Parts during the 4th quarter valued at approximately $28,000. First Command Advisory Services Inc. purchased a new position in Genuine Parts during the fourth quarter valued at approximately $28,000. Compass Planning Associates Inc bought a new position in shares of Genuine Parts in the fourth quarter worth approximately $29,000. Synergy Asset Management LLC purchased a new stake in shares of Genuine Parts in the fourth quarter worth $32,000. Finally, OFI Invest Asset Management bought a new stake in shares of Genuine Parts during the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

GPC has been the subject of a number of analyst reports. Truist Financial increased their price target on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Loop Capital initiated coverage on Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 target price for the company. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Finally, Evercore ISI cut 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 report on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $137.63.

Genuine Parts Stock Performance

NYSE GPC opened at $124.72 on Thursday. The stock has a market capitalization of $17.31 billion, a PE ratio of 19.28 and a beta of 0.93. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The business has a 50 day simple moving average of $120.84 and a two-hundred day simple moving average of $125.03. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57.

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

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.30%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. Genuine Parts’s payout ratio is presently 63.68%.

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.