Generali Asset Management SPA SGR Invests $1.91 Million in Genuine Parts (NYSE:GPC)

Generali Asset Management SPA SGR acquired a new stake in Genuine Parts (NYSE:GPC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 16,371 shares of the specialty retailer's stock, valued at approximately $1,911,000.

Several other hedge funds have also recently added to or reduced their stakes in GPC. Equity Investment Corp acquired a new position in shares of Genuine Parts during the 4th quarter worth about $84,128,000. Raymond James Financial Inc. bought a new stake in Genuine Parts in the fourth quarter valued at approximately $57,407,000. State Street Corp raised its holdings in Genuine Parts by 5.4% in the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer's stock worth $1,103,300,000 after purchasing an additional 401,180 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Genuine Parts by 1,038.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer's stock worth $38,803,000 after purchasing an additional 253,400 shares in the last quarter. Finally, Synovus Financial Corp increased its position in shares of Genuine Parts by 95.4% in the 3rd quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer's stock valued at $54,708,000 after buying an additional 191,272 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GPC. Northcoast Research lowered Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Loop Capital initiated coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a "buy" rating and a $155.00 price objective for the company. Evercore ISI lowered their target price 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, Truist Financial lifted their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Genuine Parts has a consensus rating of "Hold" and a consensus price target of $137.63.

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Genuine Parts Stock Down 2.3 %

Shares of GPC stock traded down $2.83 during trading on Tuesday, reaching $117.84. The company's stock had a trading volume of 1,830,704 shares, compared to its average volume of 1,148,776. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The business has a fifty day moving average price of $121.07 and a 200-day moving average price of $124.47. The company has a market cap of $16.35 billion, a price-to-earnings ratio of 18.21 and a beta of 0.93. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86.

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

Genuine Parts Increases Dividend

The business also recently declared 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 is Friday, March 7th. This represents a $4.12 annualized dividend and a dividend yield of 3.50%. 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.