Genuine Parts (NYSE:GPC) Stock Holdings Lifted by ICW Investment Advisors LLC

ICW Investment Advisors LLC lifted its holdings in Genuine Parts (NYSE:GPC) by 2.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 8,084 shares of the specialty retailer’s stock after buying an additional 221 shares during the quarter. ICW Investment Advisors LLC’s holdings in Genuine Parts were worth $1,120,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Axxcess Wealth Management LLC lifted its position in shares of 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 buying an additional 74 shares during the last quarter. Financial Counselors Inc. lifted its position in Genuine Parts by 0.3% in the 3rd quarter. Financial Counselors Inc. now owns 22,476 shares of the specialty retailer’s stock valued at $3,245,000 after purchasing an additional 76 shares during the last quarter. Balentine LLC lifted its position in Genuine Parts by 2.2% in the 3rd quarter. Balentine LLC now owns 3,550 shares of the specialty retailer’s stock valued at $513,000 after purchasing an additional 76 shares during the last quarter. Grimes & Company Inc. lifted its position in Genuine Parts by 2.5% in the 4th quarter. Grimes & Company Inc. now owns 3,178 shares of the specialty retailer’s stock valued at $440,000 after purchasing an additional 79 shares during the last quarter. Finally, Fiera Capital Corp lifted its position in Genuine Parts by 2.7% in the 3rd quarter. Fiera Capital Corp now owns 3,080 shares of the specialty retailer’s stock valued at $445,000 after purchasing an additional 80 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Genuine Parts Price Performance

Shares of GPC stock traded up $0.05 during midday trading on Wednesday, reaching $157.26. 290,900 shares of the company were exchanged, compared to its average volume of 1,064,746. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $174.91. The company has a market cap of $21.91 billion, a P/E ratio of 17.44 and a beta of 0.94. The company’s 50 day moving average price is $152.75 and its two-hundred day moving average price is $143.09. 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 (NYSE:GPC) last released its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The company had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the previous year, the firm earned $2.14 EPS. Genuine Parts’s revenue was up .3% on a year-over-year basis. On average, sell-side analysts expect that Genuine Parts will post 9.89 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.00 annualized dividend and a dividend yield of 2.54%. Genuine Parts’s dividend payout ratio is currently 44.59%.

Insider Transactions 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 transaction, the director now 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 the SEC website. Corporate insiders own 0.37% of the company’s stock.

About Genuine Parts

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.