Unified Investment Management Takes $6.41 Million Position in Genuine Parts (NYSE:GPC)

Unified Investment Management purchased a new stake in shares of Genuine Parts (NYSE:GPC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 54,863 shares of the specialty retailer's stock, valued at approximately $6,406,000. Genuine Parts accounts for about 7.3% of Unified Investment Management's holdings, making the stock its largest position.

Several other institutional investors have also made changes to their positions in the stock. Ashton Thomas Securities LLC bought a new stake in shares of Genuine Parts in the 3rd quarter valued at approximately $26,000. Kestra Investment Management LLC bought a new stake in Genuine Parts in the fourth quarter worth approximately $28,000. First Command Advisory Services Inc. acquired a new position in shares of Genuine Parts during the 4th quarter worth $28,000. Compass Planning Associates Inc acquired a new position in shares of Genuine Parts during the 4th quarter worth $29,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Genuine Parts during the 3rd quarter valued at $31,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on GPC. Loop Capital began coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a "buy" rating and a $155.00 target price on the stock. Northcoast Research lowered Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Evercore ISI reduced their target price on Genuine Parts from $128.00 to $125.00 and set an "in-line" rating for the company in a report on Wednesday, February 19th. Truist Financial increased their price target on Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Finally, Redburn Atlantic upgraded shares of Genuine Parts to a "hold" rating in a research note on Monday, November 11th. Eight 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, the stock currently has a consensus rating of "Hold" and a consensus price target of $137.63.

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Insider Activity

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction on Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.37% of the stock is currently owned by company insiders.

Genuine Parts Stock Performance

Genuine Parts stock traded up $2.41 during mid-day trading on Thursday, reaching $126.03. The company had a trading volume of 1,289,878 shares, compared to its average volume of 1,124,702. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The firm has a market cap of $17.49 billion, a price-to-earnings ratio of 19.48 and a beta of 0.94. The company has a 50 day moving average of $119.34 and a 200-day moving average of $126.27. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

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, 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 business had revenue of $5.77 billion during the quarter, compared to analysts' expectations of $5.71 billion. During the same quarter last year, the company earned $2.26 earnings per share. On average, sell-side analysts expect 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. Stockholders of record on Friday, March 7th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.27%. 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 dividend payout ratio (DPR) 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.