Parkside Financial Bank & Trust Raises Stock Holdings in Genuine Parts (NYSE:GPC)

Parkside Financial Bank & Trust lifted its stake in shares of Genuine Parts (NYSE:GPC) by 10.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,976 shares of the specialty retailer’s stock after acquiring an additional 191 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Genuine Parts were worth $274,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Amalgamated Bank boosted its stake in Genuine Parts by 10.7% in the 3rd quarter. Amalgamated Bank now owns 41,734 shares of the specialty retailer’s stock worth $6,026,000 after purchasing an additional 4,047 shares during the period. Conning Inc. raised its holdings in Genuine Parts by 5.9% during the 4th quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock valued at $31,501,000 after buying an additional 12,634 shares during the period. Hunter Associates Investment Management LLC increased its stake in Genuine Parts by 20.7% in the fourth quarter. Hunter Associates Investment Management LLC now owns 11,891 shares of the specialty retailer’s stock worth $1,646,000 after purchasing an additional 2,041 shares during the period. Teza Capital Management LLC purchased a new stake in Genuine Parts in the third quarter worth $1,593,000. Finally, LPL Financial LLC increased its stake in Genuine Parts by 15.1% in the third quarter. LPL Financial LLC now owns 141,483 shares of the specialty retailer’s stock worth $20,427,000 after purchasing an additional 18,522 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the transaction, the director now owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.37% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GPC shares. Truist Financial raised their price objective on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Wedbush reiterated a “neutral” rating and issued a $170.00 target price (up previously from $140.00) on shares of Genuine Parts 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. Jefferies Financial Group boosted their price target on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. Finally, Evercore ISI decreased their price target on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a report on Tuesday, April 16th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $173.10.

Genuine Parts Trading Down 0.7 %

Shares of NYSE GPC traded down $1.20 during mid-day trading on Wednesday, reaching $162.18. 298,236 shares of the company’s stock were exchanged, compared to its average volume of 1,053,090. The firm has a market capitalization of $22.59 billion, a price-to-earnings ratio of 18.21 and a beta of 0.94. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $174.91. The company’s 50-day moving average is $151.08 and its 200-day moving average is $142.62.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results 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. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The company’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.14 EPS. Analysts expect 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. Investors of record on Friday, March 1st were 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 of this dividend was Thursday, February 29th. This represents a $4.00 annualized dividend and a yield of 2.47%. Genuine Parts’s dividend payout ratio is presently 44.59%.

Genuine Parts 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.