Independent Advisor Alliance Purchases 8,098 Shares of Genuine Parts (NYSE:GPC)

Independent Advisor Alliance raised its position in shares of Genuine Parts (NYSE:GPC - Free Report) by 40.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,092 shares of the specialty retailer's stock after purchasing an additional 8,098 shares during the quarter. Independent Advisor Alliance's holdings in Genuine Parts were worth $3,280,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GPC. Meriwether Wealth & Planning LLC bought a new position in Genuine Parts in the 4th quarter worth $219,000. Daiwa Securities Group Inc. boosted its stake in shares of Genuine Parts by 9.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 22,198 shares of the specialty retailer's stock worth $2,592,000 after acquiring an additional 1,960 shares during the period. OFI Invest Asset Management purchased a new stake in shares of Genuine Parts during the fourth quarter worth about $34,000. Blake Schutter Theil Wealth Advisors LLC raised its stake in Genuine Parts by 13.2% during the 4th quarter. Blake Schutter Theil Wealth Advisors LLC now owns 2,397 shares of the specialty retailer's stock valued at $280,000 after purchasing an additional 279 shares during the period. Finally, Amundi raised its stake in Genuine Parts by 45.0% during the 4th quarter. Amundi now owns 573,366 shares of the specialty retailer's stock valued at $66,814,000 after purchasing an additional 178,050 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the business's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the transaction, the director now owns 11,357 shares in the company, valued at $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.42% of the company's stock.

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Wall Street Analyst Weigh In

GPC has been the subject of a number of research analyst reports. Northcoast Research lowered shares of Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Loop Capital started coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They set a "buy" rating and a $155.00 target price for the company. Evercore ISI decreased their price target on shares of Genuine Parts from $128.00 to $125.00 and set an "in-line" rating on the stock in a research note on Wednesday, February 19th. Finally, Truist Financial raised their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a research report 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 company. According to data from MarketBeat.com, Genuine Parts currently has a consensus rating of "Hold" and an average price target of $137.63.

Genuine Parts Price Performance

Shares of NYSE GPC traded down $2.09 during mid-day trading on Thursday, hitting $119.24. 1,430,561 shares of the company's stock traded hands, compared to its average volume of 1,136,860. 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 has a 1 year low of $112.74 and a 1 year high of $164.45. The company's 50-day moving average is $120.24 and its two-hundred day moving average is $125.73. The company has a market capitalization of $16.55 billion, a P/E ratio of 18.43 and a beta of 0.93.

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, beating analysts' consensus estimates of $1.54 by $0.07. The business had revenue of $5.77 billion for the quarter, compared to the consensus estimate 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 prior year, the business posted $2.26 earnings per share. On average, equities analysts anticipate that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.46%. This is a positive change from Genuine Parts's previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. Genuine Parts's payout ratio is presently 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.