Genuine Parts (NYSE:GPC) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. increased its position in Genuine Parts (NYSE:GPC - Free Report) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 165,453 shares of the specialty retailer's stock after buying an additional 8,358 shares during the quarter. Alliancebernstein L.P. owned about 0.12% of Genuine Parts worth $19,318,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new position in shares of Genuine Parts in the 4th quarter worth about $25,000. Kestra Investment Management LLC acquired a new stake in Genuine Parts during the 4th quarter worth approximately $28,000. First Command Advisory Services Inc. purchased 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 during the fourth quarter valued at approximately $29,000. Finally, Synergy Asset Management LLC purchased a new stake in Genuine Parts during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 78.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GPC shares. Evercore ISI raised shares of Genuine Parts from an "in-line" rating to an "outperform" rating and raised their target price for the company from $128.00 to $135.00 in a research note on Friday, April 4th. Northcoast Research cut Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Loop Capital initiated coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a "buy" rating and a $155.00 target price for the company. The Goldman Sachs Group reissued a "sell" rating and set a $114.00 price target (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Finally, Truist Financial increased 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. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $135.88.

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Genuine Parts Stock Up 1.6 %

Shares of Genuine Parts stock traded up $1.84 on Friday, hitting $115.13. 1,263,914 shares of the company's stock traded hands, compared to its average volume of 1,255,403. Genuine Parts has a 52-week low of $104.01 and a 52-week high of $164.45. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The stock has a market cap of $15.98 billion, a P/E ratio of 17.79 and a beta of 0.82. The firm's 50-day moving average is $120.28 and its 200 day moving average is $122.22.

Genuine Parts (NYSE:GPC - Get Free Report) last released its 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. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The company had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the previous year, the firm earned $2.26 EPS. Equities analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date was Friday, March 7th. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's dividend payout ratio (DPR) 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.