LPL Financial LLC Raises Holdings in Genuine Parts (NYSE:GPC)

LPL Financial LLC increased its stake in Genuine Parts (NYSE:GPC - Free Report) by 17.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 196,887 shares of the specialty retailer's stock after purchasing an additional 29,042 shares during the period. LPL Financial LLC owned 0.14% of Genuine Parts worth $22,988,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in GPC. CreativeOne Wealth LLC acquired a new position in shares of Genuine Parts in the third quarter valued at about $620,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Genuine Parts by 13.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,886 shares of the specialty retailer's stock valued at $4,314,000 after acquiring an additional 3,601 shares during the period. Fiduciary Trust Co boosted its holdings in shares of Genuine Parts by 40.9% in the 3rd quarter. Fiduciary Trust Co now owns 2,406 shares of the specialty retailer's stock valued at $336,000 after acquiring an additional 698 shares during the last quarter. Public Sector Pension Investment Board increased its stake in shares of Genuine Parts by 15.2% in the third quarter. Public Sector Pension Investment Board now owns 6,068 shares of the specialty retailer's stock worth $848,000 after acquiring an additional 800 shares during the period. Finally, PEAK6 Investments LLC purchased a new position in shares of Genuine Parts during the third quarter worth $3,089,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Genuine Parts Price Performance

NYSE GPC traded up $1.72 during mid-day trading on Wednesday, hitting $120.17. The stock had a trading volume of 1,078,396 shares, compared to its average volume of 1,594,121. The firm's 50 day moving average is $121.11 and its 200 day moving average is $123.75. 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 stock has a market capitalization of $16.68 billion, a price-to-earnings ratio of 18.57 and a beta of 0.93. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45.

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

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be paid 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 3.43%. Genuine Parts's dividend payout ratio (DPR) is 63.68%.

Analysts Set New Price Targets

GPC has been the topic of several analyst reports. Truist Financial increased their price target on Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Evercore ISI increased their target price on shares of Genuine Parts from $125.00 to $128.00 and gave the stock an "in-line" rating in a research note on Tuesday. Northcoast Research lowered Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Loop Capital assumed coverage on Genuine Parts in a research report on Thursday, January 16th. They set a "buy" rating and a $155.00 price target on the stock. Finally, The Goldman Sachs Group restated a "sell" rating and issued a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $135.00.

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.