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

PUREfi Wealth LLC bought a new position in shares of Genuine Parts (NYSE:GPC - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,377 shares of the specialty retailer's stock, valued at approximately $278,000.

Other large investors also recently modified their holdings of the company. State Street Corp grew its position in shares of Genuine Parts by 5.4% in the 3rd quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer's stock valued at $1,103,300,000 after purchasing an additional 401,180 shares during the period. Geode Capital Management LLC lifted its stake in Genuine Parts by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer's stock valued at $458,947,000 after buying an additional 32,858 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Genuine Parts by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,743,970 shares of the specialty retailer's stock valued at $383,511,000 after buying an additional 30,354 shares during the period. Stifel Financial Corp increased its position in shares of Genuine Parts by 1.2% during the third quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer's stock worth $287,405,000 after acquiring an additional 25,015 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Genuine Parts by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer's stock worth $257,124,000 after acquiring an additional 114,180 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GPC has been the topic of a number of research reports. Redburn Atlantic upgraded Genuine Parts to a "hold" rating in a report on Monday, November 11th. Evercore ISI reduced their price target on Genuine Parts from $128.00 to $125.00 and set an "in-line" rating for the company in a research report on Wednesday. Wedbush decreased their price target on shares of Genuine Parts from $145.00 to $120.00 and set a "neutral" rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their target price on Genuine Parts from $162.00 to $135.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 22nd. Finally, Truist Financial upped their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Genuine Parts presently has a consensus rating of "Hold" and a consensus target price of $137.63.

Genuine Parts Stock Performance

NYSE:GPC traded up $0.38 during mid-day trading on Wednesday, hitting $122.03. 1,754,682 shares of the stock were exchanged, compared to its average volume of 1,617,781. The firm's 50-day simple moving average is $118.25 and its 200 day simple moving average is $127.30. The stock has a market capitalization of $16.97 billion, a price-to-earnings ratio of 15.71 and a beta of 0.94. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17.

Genuine Parts (NYSE:GPC - Get Free Report) last announced 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 firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. During the same quarter in the prior year, the business posted $2.26 EPS. As a group, equities analysts anticipate that Genuine Parts will post 8.08 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be issued a $1.03 dividend. This is a positive change from Genuine Parts's previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts's dividend payout ratio (DPR) is currently 51.48%.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the business's 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 of the company's stock, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is currently owned by insiders.

Genuine Parts 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.