47,402 Shares in Genuine Parts (NYSE:GPC) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new position in Genuine Parts (NYSE:GPC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 47,402 shares of the specialty retailer's stock, valued at approximately $5,575,000.

A number of other institutional investors have also modified their holdings of GPC. Millstone Evans Group LLC acquired a new stake in Genuine Parts during the fourth quarter valued at approximately $25,000. Kestra Investment Management LLC acquired a new stake in shares of Genuine Parts during the 4th quarter valued at approximately $28,000. First Command Advisory Services Inc. acquired a new stake in shares of Genuine Parts during the 4th quarter valued at approximately $28,000. Compass Planning Associates Inc bought a new stake in shares of Genuine Parts during the 4th quarter valued at about $29,000. Finally, Synergy Asset Management LLC bought a new position in Genuine Parts in the fourth quarter worth about $32,000. Institutional investors and hedge funds own 78.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GPC shares. Evercore ISI lowered 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. Loop Capital started coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a "buy" rating and a $155.00 price objective on the stock. Truist Financial boosted their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Finally, Northcoast Research lowered shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Eight analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $137.63.

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Genuine Parts Price Performance

Shares of Genuine Parts stock traded down $2.07 on Friday, hitting $118.49. The company had a trading volume of 1,016,010 shares, compared to its average volume of 1,213,490. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. 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 company has a market cap of $16.44 billion, a PE ratio of 18.31 and a beta of 0.93. The business has a 50-day simple moving average of $121.13 and a 200-day simple moving average of $124.07.

Genuine Parts (NYSE:GPC - Get Free Report) last released its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $5.71 billion. During the same period in the prior year, the firm posted $2.26 earnings per share. Research analysts expect that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be given a $1.03 dividend. The ex-dividend date is Friday, March 7th. This is a boost from Genuine Parts's previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 3.48%. Genuine Parts's payout ratio is 63.68%.

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.