Versor Investments LP Invests $759,000 in Genuine Parts (NYSE:GPC)

Versor Investments LP purchased a new stake in shares of Genuine Parts (NYSE:GPC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,500 shares of the specialty retailer's stock, valued at approximately $759,000.

Other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its stake in shares of Genuine Parts by 8.5% during the third quarter. Assenagon Asset Management S.A. now owns 4,627 shares of the specialty retailer's stock valued at $646,000 after purchasing an additional 361 shares during the last quarter. First Trust Direct Indexing L.P. increased its position in Genuine Parts by 10.0% in the third quarter. First Trust Direct Indexing L.P. now owns 5,133 shares of the specialty retailer's stock worth $717,000 after purchasing an additional 466 shares during the period. Pinnacle Associates Ltd. raised its holdings in Genuine Parts by 12.8% during the 3rd quarter. Pinnacle Associates Ltd. now owns 3,549 shares of the specialty retailer's stock worth $492,000 after purchasing an additional 404 shares during the last quarter. HM Payson & Co. raised its holdings in Genuine Parts by 20.2% during the 3rd quarter. HM Payson & Co. now owns 3,200 shares of the specialty retailer's stock worth $447,000 after purchasing an additional 537 shares during the last quarter. Finally, United Asset Strategies Inc. lifted its holdings in Genuine Parts by 2.4% in the third quarter. United Asset Strategies Inc. now owns 4,659 shares of the specialty retailer's stock valued at $651,000 after buying an additional 108 shares during the period. Institutional investors own 78.83% of the company's stock.

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Analysts Set New Price Targets

Several analysts have commented on the stock. Truist Financial upped their target price 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. Northcoast Research downgraded shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. Redburn Atlantic upgraded shares of Genuine Parts to a "hold" rating in a report on Monday, November 11th. Loop Capital initiated coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a "buy" rating and a $155.00 target price for the company. Finally, Evercore ISI reduced their price target on shares of Genuine Parts from $128.00 to $125.00 and set an "in-line" rating on the stock in a research report on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $137.63.

Genuine Parts Stock Down 0.4 %

Shares of NYSE:GPC traded down $0.50 during midday trading on Tuesday, reaching $123.50. 691,391 shares of the company were exchanged, compared to its average volume of 1,120,383. The firm has a market cap of $17.14 billion, a PE ratio of 19.15 and a beta of 0.94. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The stock has a fifty day simple moving average of $119.10 and a two-hundred day simple moving average of $126.40. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.07. The firm had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same quarter last year, the business posted $2.26 EPS. As a group, sell-side analysts forecast that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The firm 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 $1.03 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Genuine Parts's previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.34%. Genuine Parts's dividend payout ratio (DPR) is 63.68%.

Insider Transactions at Genuine Parts

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 value of $194,214.24. Following the sale, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.37% of the stock is currently owned by insiders.

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.