Genuine Parts (NYSE:GPC) Shares Bought by River Road Asset Management LLC

River Road Asset Management LLC lifted its holdings in Genuine Parts (NYSE:GPC - Free Report) by 26.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,193 shares of the specialty retailer's stock after purchasing an additional 47,987 shares during the quarter. River Road Asset Management LLC owned about 0.17% of Genuine Parts worth $26,877,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quantinno Capital Management LP lifted its position in Genuine Parts by 74.0% during the 3rd quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer's stock worth $1,580,000 after acquiring an additional 4,809 shares during the period. Caprock Group LLC acquired a new stake in Genuine Parts during the 4th quarter worth about $540,000. Miramar Capital LLC lifted its position in Genuine Parts by 9.8% during the 3rd quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer's stock worth $12,264,000 after acquiring an additional 7,845 shares during the period. Verity & Verity LLC lifted its position in Genuine Parts by 9.7% during the 4th quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer's stock worth $12,198,000 after acquiring an additional 9,199 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in Genuine Parts during the 4th quarter worth about $21,840,000. Institutional investors and hedge funds own 78.83% of the company's stock.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the company's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the transaction, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.37% of the stock is currently owned by insiders.

Remove Ads

Analyst Upgrades and Downgrades

GPC has been the subject of a number of recent research reports. Evercore ISI reduced their price objective 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. Northcoast Research lowered Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Truist Financial lifted their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Loop Capital began coverage on Genuine Parts in a research note on Thursday, January 16th. They set a "buy" rating and a $155.00 price objective for the company. Finally, Redburn Atlantic upgraded Genuine Parts to a "hold" rating in a research note on Monday, November 11th. Eight research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $137.63.

Genuine Parts Price Performance

NYSE:GPC traded down $5.28 during trading hours on Tuesday, hitting $123.74. 2,433,548 shares of the stock were exchanged, compared to its average volume of 1,134,028. The company has a market cap of $17.17 billion, a P/E ratio of 19.13 and a beta of 0.93. The firm's fifty day moving average price is $120.15 and its 200 day moving average price is $125.76. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86.

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

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors 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 a boost from Genuine Parts's previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a yield of 3.33%. Genuine Parts's dividend payout ratio is currently 63.68%.

About Genuine Parts

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.