FIL Ltd Buys 123,277 Shares of Genuine Parts (NYSE:GPC)

FIL Ltd lifted its position in Genuine Parts (NYSE:GPC - Free Report) by 130.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 217,823 shares of the specialty retailer's stock after purchasing an additional 123,277 shares during the quarter. FIL Ltd owned 0.16% of Genuine Parts worth $25,433,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Quantinno Capital Management LP grew 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 during the last quarter. Caprock Group LLC purchased a new stake in Genuine Parts during the 4th quarter valued at about $540,000. Verity & Verity LLC boosted its holdings in Genuine Parts by 9.7% during the 4th quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer's stock valued at $12,198,000 after acquiring an additional 9,199 shares during the period. Proficio Capital Partners LLC bought a new position in Genuine Parts during the 4th quarter worth approximately $21,840,000. Finally, JPMorgan Chase & Co. increased its stake in Genuine Parts by 6.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer's stock worth $257,124,000 after purchasing an additional 114,180 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on GPC shares. Northcoast Research cut shares of Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Truist Financial raised their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Evercore ISI raised Genuine Parts from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $128.00 to $135.00 in a research note on Friday, April 4th. Finally, Loop Capital started coverage on Genuine Parts in a research report on Thursday, January 16th. They set a "buy" rating and a $155.00 price target for the company. One analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $135.88.

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Genuine Parts Trading Down 1.6 %

GPC stock traded down $1.87 during trading on Tuesday, reaching $114.37. The company had a trading volume of 522,939 shares, compared to its average volume of 1,255,691. The business has a 50 day moving average of $120.23 and a 200 day moving average of $121.91. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The company has a market cap of $15.87 billion, a P/E ratio of 17.68 and a beta of 0.82. Genuine Parts has a 52 week low of $104.01 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The firm had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same quarter in the prior year, the company earned $2.26 EPS. As a group, sell-side analysts forecast that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders 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 dividend yield of 3.60%. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's payout ratio is 63.68%.

Genuine Parts Company 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.