1,569 Shares in Genuine Parts (NYSE:GPC) Purchased by NewEdge Wealth LLC

NewEdge Wealth LLC purchased a new position in Genuine Parts (NYSE:GPC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,569 shares of the specialty retailer’s stock, valued at approximately $217,000.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Genuine Parts by 2.9% in the first quarter. Vanguard Group Inc. now owns 17,088,101 shares of the specialty retailer’s stock worth $2,153,442,000 after acquiring an additional 481,039 shares in the last quarter. State Street Corp lifted its stake in shares of Genuine Parts by 2.4% in the first quarter. State Street Corp now owns 7,189,643 shares of the specialty retailer’s stock worth $1,209,476,000 after acquiring an additional 171,000 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Genuine Parts by 4.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,860,574 shares of the specialty retailer’s stock worth $612,531,000 after acquiring an additional 185,529 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Genuine Parts by 1.3% in the first quarter. Geode Capital Management LLC now owns 2,977,671 shares of the specialty retailer’s stock worth $497,089,000 after acquiring an additional 36,774 shares in the last quarter. Finally, Imprint Wealth LLC increased its holdings in Genuine Parts by 16,507.5% in the second quarter. Imprint Wealth LLC now owns 2,611,194 shares of the specialty retailer’s stock valued at $261,119,000 after buying an additional 2,595,471 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GPC shares. Truist Financial reissued a “buy” rating and issued a $167.00 price objective on shares of Genuine Parts in a report on Friday, April 12th. Evercore ISI lowered their price objective on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a report on Tuesday. Wedbush reissued a “neutral” rating and issued a $140.00 price objective on shares of Genuine Parts in a report on Friday, February 16th. Finally, StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Genuine Parts currently has an average rating of “Moderate Buy” and an average price target of $168.33.

Genuine Parts Stock Up 11.2 %

NYSE:GPC opened at $160.23 on Friday. The firm has a market capitalization of $22.34 billion, a PE ratio of 17.17 and a beta of 0.94. The stock has a 50 day moving average of $149.92 and a 200-day moving average of $142.22. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $174.91. The company has a current ratio of 1.23, a quick ratio of 0.63 and a debt-to-equity ratio of 0.80.

Genuine Parts (NYSE:GPC) last posted its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, beating the consensus estimate of $2.16 by $0.06. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The company had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same period in the prior year, the company earned $2.14 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. Analysts predict that Genuine Parts will post 9.76 EPS for the current year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.50%. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, February 29th. Genuine Parts’s dividend payout ratio is 42.87%.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the transaction, the director now directly owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.37% of the company’s stock.

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.