Advisors Asset Management Inc. Acquires 9,355 Shares of Genuine Parts (NYSE:GPC)

Advisors Asset Management Inc. raised its holdings in Genuine Parts (NYSE:GPC - Free Report) by 17.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,881 shares of the specialty retailer's stock after acquiring an additional 9,355 shares during the quarter. Advisors Asset Management Inc.'s holdings in Genuine Parts were worth $7,342,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GPC. Kestra Investment Management LLC bought a new position in Genuine Parts in the 4th quarter worth $28,000. First Command Advisory Services Inc. bought a new position in shares of Genuine Parts in the fourth quarter worth about $28,000. Compass Planning Associates Inc acquired a new position in shares of Genuine Parts during the 4th quarter worth about $29,000. Synergy Asset Management LLC bought a new stake in Genuine Parts during the 4th quarter valued at approximately $32,000. Finally, OFI Invest Asset Management acquired a new stake in Genuine Parts in the 4th quarter valued at approximately $34,000. 78.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GPC shares. Northcoast Research lowered Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Loop Capital started coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a "buy" rating and a $155.00 price target for the company. Evercore ISI dropped their price objective on shares of Genuine Parts from $128.00 to $125.00 and set an "in-line" rating on the stock in a report on Wednesday, February 19th. Finally, Truist Financial increased their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Genuine Parts presently has an average rating of "Hold" and a consensus target price of $137.63.

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Genuine Parts Price Performance

NYSE:GPC traded down $1.82 during mid-day trading on Friday, hitting $118.93. The company's stock had a trading volume of 3,064,471 shares, compared to its average volume of 1,150,171. The company has a market capitalization of $16.50 billion, a price-to-earnings ratio of 18.38 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 has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The stock has a fifty day moving average of $120.99 and a 200-day moving average of $124.70.

Genuine Parts (NYSE:GPC - Get Free Report) last issued 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 business had revenue of $5.77 billion during the quarter, compared to analysts' expectations of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same period in the prior year, the firm posted $2.26 EPS. As a group, equities analysts forecast that Genuine Parts will post 7.9 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. Stockholders of record on Friday, March 7th will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's payout ratio is currently 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.