Invesco Ltd. boosted its holdings in Genuine Parts (NYSE:GPC - Free Report) by 18.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,262,229 shares of the specialty retailer's stock after acquiring an additional 518,851 shares during the quarter. Invesco Ltd. owned about 2.35% of Genuine Parts worth $380,898,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Polymer Capital Management US LLC bought a new position in shares of Genuine Parts in the fourth quarter valued at $343,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Genuine Parts during the fourth quarter valued at $33,000. Rahlfs Capital LLC acquired a new position in shares of Genuine Parts in the 4th quarter valued at $837,000. Oarsman Capital Inc. increased its stake in Genuine Parts by 90.3% in the 4th quarter. Oarsman Capital Inc. now owns 2,360 shares of the specialty retailer's stock worth $276,000 after purchasing an additional 1,120 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new stake in Genuine Parts during the fourth quarter valued at about $6,796,000. 78.83% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts recently commented on GPC shares. Truist Financial upped their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. 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. Loop Capital assumed coverage on Genuine Parts in a research note on Thursday, January 16th. They set a "buy" rating and a $155.00 target price on the stock. Northcoast Research lowered shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. Finally, Evercore ISI upgraded shares of Genuine Parts from an "in-line" rating to an "outperform" rating and upped their price objective for the company from $128.00 to $135.00 in a research note on Friday, April 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $135.88.
Check Out Our Latest Stock Analysis on Genuine Parts
Genuine Parts Stock Down 0.4 %
Genuine Parts stock traded down $0.50 during mid-day trading on Tuesday, hitting $115.73. 286,821 shares of the company's stock were exchanged, compared to its average volume of 1,252,617. Genuine Parts has a 1-year low of $104.01 and a 1-year high of $164.45. The stock has a 50 day moving average of $120.23 and a two-hundred day moving average of $121.91. The stock has a market cap of $16.06 billion, a P/E ratio of 17.89 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 (NYSE:GPC - Get Free Report) last posted 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. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The firm had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same period in the previous year, the company earned $2.26 EPS. As a group, 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 was paid on Wednesday, April 2nd. Investors of record on Friday, March 7th were given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Friday, March 7th. This is a boost from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's payout ratio is currently 63.68%.
About Genuine Parts
(
Free Report)
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.
Featured Articles
Before you consider Genuine Parts, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Genuine Parts wasn't on the list.
While Genuine Parts currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
