BXM Wealth LLC Buys Shares of 2,606 Genuine Parts (NYSE:GPC)

BXM Wealth LLC purchased a new stake in shares of Genuine Parts (NYSE:GPC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,606 shares of the specialty retailer's stock, valued at approximately $304,000.

Other institutional investors also recently bought and sold shares of the company. Quantinno Capital Management LP raised its position in Genuine Parts by 74.0% during the third quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer's stock valued at $1,580,000 after acquiring an additional 4,809 shares in the last quarter. Caprock Group LLC acquired a new stake in Genuine Parts in the fourth quarter valued at approximately $540,000. Miramar Capital LLC grew its holdings in Genuine Parts by 9.8% in the third quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer's stock valued at $12,264,000 after purchasing an additional 7,845 shares during the period. Verity & Verity LLC grew its holdings in Genuine Parts by 9.7% in the fourth quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer's stock valued at $12,198,000 after purchasing an additional 9,199 shares during the period. Finally, Conning Inc. grew its holdings in Genuine Parts by 8.2% in the third quarter. Conning Inc. now owns 261,303 shares of the specialty retailer's stock valued at $36,499,000 after purchasing an additional 19,795 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now owns 11,357 shares in the company, valued at $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.37% of the company's stock.

Genuine Parts Trading Up 0.3 %

Genuine Parts stock traded up $0.38 during trading on Wednesday, reaching $122.03. 1,754,682 shares of the company were exchanged, compared to its average volume of 1,617,781. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The company has a market capitalization of $16.97 billion, a P/E ratio of 15.71 and a beta of 0.94. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The stock's 50 day simple moving average is $118.25 and its two-hundred day simple moving average is $127.30.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.07. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter last year, the business posted $2.26 earnings per share. On average, equities research analysts expect that Genuine Parts will post 8.08 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be given a dividend of $1.03 per share. This is an increase 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 dividend payout ratio (DPR) is presently 51.48%.

Wall Street Analyst Weigh In

GPC has been the topic of several research analyst reports. UBS Group dropped their price objective on Genuine Parts from $145.00 to $125.00 and set a "neutral" rating on the stock in a report on Wednesday, October 23rd. Redburn Atlantic raised Genuine Parts to a "hold" rating in a report on Monday, November 11th. Truist Financial raised their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a report on Wednesday. Evercore ISI lowered their price target on Genuine Parts from $128.00 to $125.00 and set an "in-line" rating on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. lowered their price target on Genuine Parts from $162.00 to $135.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 22nd. Eight analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $137.63.

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.