Trueblood Wealth Management LLC Purchases New Shares in Genuine Parts (NYSE:GPC)

Trueblood Wealth Management LLC acquired a new position in shares of Genuine Parts (NYSE:GPC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,018 shares of the specialty retailer’s stock, valued at approximately $418,000.

Several other institutional investors and hedge funds have also modified their holdings of GPC. Salem Investment Counselors Inc. raised its stake in Genuine Parts by 42.9% during the fourth quarter. Salem Investment Counselors Inc. now owns 200 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 60 shares during the last quarter. Wetherby Asset Management Inc. grew its stake in Genuine Parts by 3.0% in the first quarter. Wetherby Asset Management Inc. now owns 2,101 shares of the specialty retailer’s stock worth $352,000 after purchasing an additional 61 shares in the last quarter. Federated Hermes Inc. lifted its holdings in Genuine Parts by 2.9% during the third quarter. Federated Hermes Inc. now owns 2,402 shares of the specialty retailer’s stock worth $359,000 after buying an additional 68 shares during the period. Axxcess Wealth Management LLC raised its stake in Genuine Parts by 5.0% in the 3rd quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock worth $223,000 after acquiring an additional 74 shares during the last quarter. Finally, Financial Counselors Inc. grew its position in Genuine Parts by 0.3% during the 3rd quarter. Financial Counselors Inc. now owns 22,476 shares of the specialty retailer’s stock worth $3,245,000 after purchasing an additional 76 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on GPC. Truist Financial lifted their price target on shares of Genuine Parts from $155.00 to $157.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Evercore ISI increased their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Wedbush reiterated a “neutral” rating and issued a $140.00 price objective on shares of Genuine Parts in a report on Friday, February 16th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Genuine Parts has an average rating of “Moderate Buy” and a consensus target price of $167.78.

Genuine Parts Stock Down 0.2 %

Shares of GPC traded down $0.26 during mid-day trading on Thursday, hitting $154.93. 954,208 shares of the company’s stock were exchanged, compared to its average volume of 1,010,012. The company has a quick ratio of 0.63, a current ratio of 1.23 and a debt-to-equity ratio of 0.80. The firm has a fifty day moving average of $147.29 and a two-hundred day moving average of $141.79. The stock has a market cap of $21.60 billion, a price-to-earnings ratio of 16.62 and a beta of 0.94. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $174.91.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Thursday, February 15th. The specialty retailer reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.06. The company had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.64 billion. Genuine Parts had a net margin of 5.70% and a return on equity of 31.64%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the firm earned $2.05 EPS. On average, sell-side analysts forecast that Genuine Parts will post 9.77 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 1st will be paid a dividend of $1.00 per share. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date is Thursday, February 29th. This represents a $4.00 annualized dividend and a yield of 2.58%. Genuine Parts’s dividend payout ratio (DPR) is presently 42.87%.

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.