2,610 Shares in Genuine Parts (NYSE:GPC) Bought by Enhancing Capital LLC

Enhancing Capital LLC purchased a new stake in shares of Genuine Parts (NYSE:GPC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,610 shares of the specialty retailer's stock, valued at approximately $305,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp lifted its stake 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 last quarter. Geode Capital Management LLC lifted its stake in shares of Genuine Parts by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer's stock valued at $458,947,000 after purchasing an additional 32,858 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Genuine Parts by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer's stock valued at $337,428,000 after purchasing an additional 145,960 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of Genuine Parts by 1.2% during the 3rd 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 during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Genuine Parts by 6.6% during the 3rd 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 last quarter. 78.83% of the stock is owned by institutional investors.

Remove Ads

Wall Street Analyst Weigh In

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

Genuine Parts Trading Down 1.5 %

GPC traded down $1.82 during trading on Friday, hitting $118.93. 3,064,471 shares of the stock were exchanged, compared to its average volume of 1,150,171. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The firm has a 50 day simple moving average of $120.99 and a 200 day simple moving average of $124.70. The firm has a market cap of $16.50 billion, a price-to-earnings ratio of 18.38 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The business had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same period last year, the business posted $2.26 EPS. As a group, equities analysts expect that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be issued a $1.03 dividend. 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. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.46%. Genuine Parts's dividend payout ratio (DPR) is currently 63.68%.

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.