Handelsbanken Fonder AB Boosts Stock Holdings in Genuine Parts (NYSE:GPC)

Handelsbanken Fonder AB increased its holdings in Genuine Parts (NYSE:GPC) by 16.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 90,913 shares of the specialty retailer’s stock after buying an additional 12,945 shares during the quarter. Handelsbanken Fonder AB’s holdings in Genuine Parts were worth $10,615,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in shares of Genuine Parts in the third quarter valued at approximately $26,000. Kestra Investment Management LLC acquired a new position in shares of Genuine Parts in the 4th quarter worth approximately $28,000. Capital Performance Advisors LLP acquired a new stake in shares of Genuine Parts in the third quarter valued at $31,000. Synergy Asset Management LLC purchased a new position in Genuine Parts in the 4th quarter valued at approximately $32,000. Finally, Concord Wealth Partners boosted its holdings in Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 119 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

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 that occurred 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 completion of the sale, the director now directly owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

Genuine Parts Trading Down 1.3 %

NYSE:GPC opened at $121.68 on Friday. 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 company has a market capitalization of $16.92 billion, a PE ratio of 18.81 and a beta of 0.94. The stock has a fifty day simple moving average of $118.29 and a 200-day simple moving average of $127.07. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data 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 business 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 period in the prior year, the business earned $2.26 earnings per share. On average, 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 declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Friday, March 7th. Genuine Parts’s dividend payout ratio (DPR) is currently 63.68%.

Wall Street Analyst Weigh In

GPC has been the topic of a number of recent analyst reports. Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Loop Capital assumed coverage on Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective for the company. Evercore ISI lowered their price target on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a report on Wednesday. Truist Financial boosted their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Redburn Atlantic raised Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Genuine Parts has a consensus rating of “Hold” and an average target price of $137.63.

Genuine Parts Company 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.