Optimize Financial Inc Invests $461,000 in Genuine Parts (NYSE:GPC)

Optimize Financial Inc bought a new position in Genuine Parts (NYSE:GPC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 3,949 shares of the specialty retailer's stock, valued at approximately $461,000.

Several other large investors have also recently bought and sold shares of GPC. Ceeto Capital Group LLC bought a new position in Genuine Parts in the 4th quarter valued at approximately $589,000. Sterling Capital Management LLC increased its position in Genuine Parts by 47.0% in the 4th quarter. Sterling Capital Management LLC now owns 9,199 shares of the specialty retailer's stock valued at $1,074,000 after acquiring an additional 2,941 shares during the period. Heritage Trust Co bought a new position in shares of Genuine Parts during the fourth quarter valued at $5,301,000. Summit Financial Wealth Advisors LLC lifted its holdings in shares of Genuine Parts by 1.5% during the fourth quarter. Summit Financial Wealth Advisors LLC now owns 68,547 shares of the specialty retailer's stock worth $7,946,000 after purchasing an additional 1,011 shares during the period. Finally, Argent Trust Co grew its stake in shares of Genuine Parts by 6.1% in the fourth quarter. Argent Trust Co now owns 5,498 shares of the specialty retailer's stock worth $642,000 after purchasing an additional 316 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Down 1.6 %

Shares of Genuine Parts stock traded down $1.87 during trading on Tuesday, reaching $114.37. 1,076,412 shares of the company traded hands, compared to its average volume of 1,256,008. 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 firm has a market capitalization of $15.87 billion, a PE ratio of 17.68 and a beta of 0.82. The company has a 50 day moving average price of $120.16 and a 200-day moving average price of $121.86. Genuine Parts has a 1-year low of $104.01 and a 1-year high of $164.45.

Remove Ads

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter in the prior year, the business earned $2.26 earnings per share. As a group, equities research analysts expect that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

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

Wall Street Analyst Weigh In

GPC has been the topic of several recent research reports. Truist Financial lifted their target price on Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. The Goldman Sachs Group reiterated a "sell" rating and issued a $114.00 target price (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Loop Capital started coverage on shares of Genuine Parts in a report on Thursday, January 16th. They set a "buy" rating and a $155.00 price target for the company. Evercore ISI raised 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. Finally, Northcoast Research cut shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $135.88.

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.