Signaturefd LLC Boosts Position in Genuine Parts (NYSE:GPC)

Signaturefd LLC increased its holdings in shares of Genuine Parts (NYSE:GPC) by 11.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,917 shares of the specialty retailer’s stock after purchasing an additional 417 shares during the quarter. Signaturefd LLC’s holdings in Genuine Parts were worth $543,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GPC. OFI Invest Asset Management acquired a new position in Genuine Parts during the third quarter worth approximately $25,000. Milestone Investment Advisors LLC acquired a new position in Genuine Parts during the third quarter worth approximately $28,000. Briaud Financial Planning Inc acquired a new position in Genuine Parts during the third quarter worth approximately $28,000. Authentikos Wealth Advisory LLC acquired a new position in Genuine Parts during the third quarter worth approximately $40,000. Finally, Orion Capital Management LLC acquired a new position in Genuine Parts during the third quarter worth approximately $42,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Down 1.0 %

Shares of GPC stock opened at $161.80 on Thursday. The business’s fifty day moving average price is $151.08 and its 200 day moving average price is $142.62. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $174.91. The firm has a market capitalization of $22.54 billion, a PE ratio of 18.04 and a beta of 0.94. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The firm had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the prior year, the company posted $2.14 earnings per share. Genuine Parts’s quarterly revenue was up .3% on a year-over-year basis. As a group, sell-side analysts forecast that Genuine Parts will post 9.89 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 2.47%. This is an increase from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, February 29th. Genuine Parts’s payout ratio is presently 44.59%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GPC shares. Jefferies Financial Group lifted their price target on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Evercore ISI dropped their target price on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Wedbush reissued a “neutral” rating and issued a $170.00 target price (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Finally, Truist Financial boosted their target price on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a report on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Genuine Parts has an average rating of “Hold” and an average price target of $173.10.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the sale, the director now directly owns 14,397 shares in the company, valued at $2,230,383.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.37% of the stock is owned by company insiders.

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.