Genuine Parts (NYSE:GPC) Shares Acquired by West Tower Group LLC

West Tower Group LLC boosted its position in shares of Genuine Parts (NYSE:GPC) by 80.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,600 shares of the specialty retailer’s stock after acquiring an additional 1,600 shares during the period. West Tower Group LLC’s holdings in Genuine Parts were worth $420,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Kestra Investment Management LLC acquired a new stake in Genuine Parts during the 4th quarter valued at $28,000. First Command Advisory Services Inc. acquired a new stake in Genuine Parts during the 4th quarter valued at $28,000. Compass Planning Associates Inc acquired a new stake in Genuine Parts during the 4th quarter valued at $29,000. Synergy Asset Management LLC acquired a new stake in Genuine Parts during the 4th quarter valued at $32,000. Finally, OFI Invest Asset Management acquired a new position in Genuine Parts during the 4th quarter worth $34,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GPC shares. Evercore ISI decreased their price objective on shares of 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 raised their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Finally, 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 objective for the company. Eight investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $137.63.

Genuine Parts Trading Up 0.4 %

Genuine Parts stock opened at $123.98 on Wednesday. The firm’s 50-day moving average is $120.68 and its 200-day moving average is $125.03. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The company has a market cap of $17.21 billion, a P/E ratio of 19.16 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last issued 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. The firm had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same period last year, the firm posted $2.26 EPS. On average, equities analysts expect that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be given 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 annualized dividend and a yield of 3.32%. Genuine Parts’s dividend payout ratio (DPR) is currently 63.68%.

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.