RWA Wealth Partners LLC Increases Stake in Genuine Parts (NYSE:GPC)

RWA Wealth Partners LLC grew its stake in shares of Genuine Parts (NYSE:GPC) by 13.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,751 shares of the specialty retailer’s stock after buying an additional 332 shares during the quarter. RWA Wealth Partners LLC’s holdings in Genuine Parts were worth $321,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Millstone Evans Group LLC purchased a new stake in Genuine Parts during the 4th quarter valued at $25,000. Kestra Investment Management LLC purchased a new stake in shares of Genuine Parts during the fourth quarter worth about $28,000. First Command Advisory Services Inc. bought a new stake in shares of Genuine Parts in the fourth quarter worth about $28,000. Compass Planning Associates Inc purchased a new position in Genuine Parts during the 4th quarter valued at about $29,000. Finally, Synergy Asset Management LLC bought a new position in Genuine Parts during the 4th quarter valued at approximately $32,000. Institutional investors own 78.83% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GPC. The Goldman Sachs Group reiterated a “sell” rating and issued a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a research report on Tuesday. Truist Financial boosted their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Evercore ISI raised their target price on shares of Genuine Parts from $125.00 to $128.00 and gave the stock an “in-line” rating in a research report on Tuesday. Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Finally, Loop Capital started coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $135.00.

Genuine Parts Price Performance

Shares of GPC opened at $118.59 on Wednesday. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The firm’s 50-day simple moving average is $121.11 and its two-hundred day simple moving average is $123.75. The stock has a market cap of $16.46 billion, a PE ratio of 18.33 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.07. The company had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same quarter in the prior year, the business posted $2.26 EPS. 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. Stockholders of record on Friday, March 7th will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Friday, March 7th. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s payout ratio is currently 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.