Franklin Resources Inc. Has $28.57 Million Stake in Genuine Parts (NYSE:GPC)

Franklin Resources Inc. boosted its stake in Genuine Parts (NYSE:GPC - Free Report) by 10.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 244,643 shares of the specialty retailer's stock after purchasing an additional 22,707 shares during the period. Franklin Resources Inc. owned approximately 0.18% of Genuine Parts worth $28,565,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of GPC. Millstone Evans Group LLC bought a new position in shares of Genuine Parts in the fourth quarter valued at $25,000. Kestra Investment Management LLC bought a new position in shares of Genuine Parts in the 4th quarter valued at about $28,000. First Command Advisory Services Inc. acquired a new stake in Genuine Parts during the fourth quarter worth approximately $28,000. Compass Planning Associates Inc acquired a new position in Genuine Parts in the fourth quarter valued at about $29,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Genuine Parts during the 4th quarter valued at $32,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GPC. The Goldman Sachs Group reiterated a "sell" rating and issued a $114.00 target price (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Evercore ISI raised shares of Genuine Parts from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $128.00 to $135.00 in a report on Friday, April 4th. Northcoast Research cut shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. 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 target price on the stock. Finally, Truist Financial boosted their price target on Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $135.88.

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Genuine Parts Trading Down 2.8 %

Genuine Parts stock traded down $3.18 during trading on Thursday, reaching $110.80. 302,761 shares of the company were exchanged, compared to its average volume of 1,245,339. Genuine Parts has a 52-week low of $104.01 and a 52-week high of $164.45. The stock's 50 day simple moving average is $120.38 and its two-hundred day simple moving average is $122.57. The company has a market capitalization of $15.38 billion, a P/E ratio of 17.15 and a beta of 0.82. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 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 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 company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter last year, the company posted $2.26 earnings per share. On average, equities research analysts expect that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Friday, March 7th were issued a $1.03 dividend. This is a positive change from Genuine Parts's previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 3.72%. The ex-dividend date was Friday, March 7th. Genuine Parts's payout ratio 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.