Guggenheim Capital LLC Increases Stock Position in Genuine Parts (NYSE:GPC)

Guggenheim Capital LLC boosted its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 8.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 79,171 shares of the specialty retailer's stock after buying an additional 6,157 shares during the quarter. Guggenheim Capital LLC owned approximately 0.06% of Genuine Parts worth $9,244,000 as of its most recent SEC filing.

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

Genuine Parts Price Performance

Shares of GPC stock traded up $2.75 during trading hours on Tuesday, reaching $114.57. The stock had a trading volume of 652,847 shares, compared to its average volume of 1,237,028. The stock's fifty day simple moving average is $119.61 and its 200 day simple moving average is $121.04. The firm has a market capitalization of $15.90 billion, a PE ratio of 17.71 and a beta of 0.82. 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 has a 12 month low of $104.01 and a 12 month high of $163.86.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.09. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. On average, equities research analysts predict that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th were issued a $1.03 dividend. The ex-dividend date was Friday, March 7th. This represents a $4.12 annualized dividend and a dividend yield of 3.60%. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's payout ratio is currently 63.68%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. StockNews.com upgraded Genuine Parts from a "hold" rating to a "buy" rating in a report on Friday. The Goldman Sachs Group reissued a "sell" rating and set a $114.00 price target (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Truist Financial boosted their target price on Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Evercore ISI upgraded Genuine Parts from an "in-line" rating to an "outperform" rating and lifted their target price for the stock from $128.00 to $135.00 in a research note on Friday, April 4th. Finally, Northcoast Research downgraded shares of Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $131.00.

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.