Genuine Parts (NYSE:GPC) Shares Acquired by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC increased its position in Genuine Parts (NYSE:GPC - Free Report) by 333.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,856 shares of the specialty retailer's stock after buying an additional 29,117 shares during the period. Orion Portfolio Solutions LLC's holdings in Genuine Parts were worth $4,420,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Hartford Financial Management Inc. grew its holdings in Genuine Parts by 0.5% in the 4th quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer's stock valued at $2,185,000 after buying an additional 99 shares during the period. New York Life Investment Management LLC grew its holdings in Genuine Parts by 0.6% in the fourth quarter. New York Life Investment Management LLC now owns 18,743 shares of the specialty retailer's stock valued at $2,188,000 after purchasing an additional 108 shares during the period. Grimes & Company Inc. increased its position in Genuine Parts by 3.3% during the fourth quarter. Grimes & Company Inc. now owns 3,494 shares of the specialty retailer's stock worth $408,000 after purchasing an additional 111 shares during the last quarter. Pinnacle Financial Partners Inc raised its stake in Genuine Parts by 2.5% during the fourth quarter. Pinnacle Financial Partners Inc now owns 4,630 shares of the specialty retailer's stock worth $541,000 after purchasing an additional 115 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Genuine Parts by 1.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 7,512 shares of the specialty retailer's stock valued at $877,000 after purchasing an additional 128 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

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Genuine Parts Stock Up 1.5 %

GPC stock traded up $1.72 during trading on Wednesday, reaching $120.17. The stock had a trading volume of 1,078,396 shares, compared to its average volume of 1,215,744. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The firm has a fifty day moving average price of $121.11 and a 200 day moving average price of $123.75. The company has a market capitalization of $16.68 billion, a P/E ratio of 18.57 and a beta of 0.93. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating 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 quarter in the prior year, the business posted $2.26 earnings per share. On average, equities analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Friday, March 7th. This is a positive change from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's payout ratio is 63.68%.

Analyst Ratings Changes

A number of brokerages recently weighed in on GPC. Loop Capital began coverage on Genuine Parts in a report on Thursday, January 16th. They issued a "buy" rating and a $155.00 target price on the stock. Northcoast Research downgraded shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. The Goldman Sachs Group reaffirmed 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. Evercore ISI increased their price objective on shares of Genuine Parts from $125.00 to $128.00 and gave the stock an "in-line" rating in a research report on Tuesday. Finally, Truist Financial lifted their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $135.00.

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.