Blue Trust Inc. Has $1.15 Million Position in Genuine Parts (NYSE:GPC)

Blue Trust Inc. boosted its position in shares of Genuine Parts (NYSE:GPC - Free Report) by 151.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,843 shares of the specialty retailer's stock after purchasing an additional 5,934 shares during the period. Blue Trust Inc.'s holdings in Genuine Parts were worth $1,149,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in Genuine Parts during the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP purchased a new position in Genuine Parts during the 3rd quarter worth approximately $31,000. Concord Wealth Partners grew its position in Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer's stock worth $38,000 after purchasing an additional 119 shares in the last quarter. Synergy Asset Management LLC purchased a new position in Genuine Parts during the 4th quarter worth approximately $32,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Genuine Parts during the 3rd quarter worth approximately $44,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GPC has been the topic of several research analyst reports. Truist Financial lifted their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a research report on Wednesday. Wedbush lowered their price target on shares of Genuine Parts from $145.00 to $120.00 and set a "neutral" rating on the stock in a report on Wednesday, October 23rd. Loop Capital started coverage on shares of Genuine Parts in a report on Thursday, January 16th. They set a "buy" rating and a $155.00 price target on the stock. Redburn Atlantic upgraded shares of Genuine Parts to a "hold" rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Genuine Parts from $162.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday, October 22nd. Eight analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $137.63.

Genuine Parts Stock Up 0.3 %

NYSE:GPC traded up $0.38 during trading hours on Wednesday, reaching $122.03. The company's stock had a trading volume of 1,663,470 shares, compared to its average volume of 1,616,424. The company has a market cap of $16.97 billion, a price-to-earnings ratio of 15.71 and a beta of 0.94. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The business's 50-day moving average is $118.27 and its 200-day moving average is $127.34. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $5.71 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. During the same period in the prior year, the company posted $2.26 earnings per share. Equities research analysts predict that Genuine Parts will post 8.08 EPS for the current 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 given a dividend of $1.03 per share. This is a positive change from Genuine Parts's previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a yield of 3.38%. Genuine Parts's payout ratio is currently 51.48%.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the business's stock in a transaction on Friday, December 13th. The shares were 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 $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.37% of the company's stock.

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.