Gallacher Capital Management LLC Purchases New Shares in Genuine Parts (NYSE:GPC)

Gallacher Capital Management LLC acquired a new stake in Genuine Parts (NYSE:GPC) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,847 shares of the specialty retailer’s stock, valued at approximately $256,000.

A number of other institutional investors have also recently bought and sold shares of GPC. OFI Invest Asset Management purchased a new position in Genuine Parts during the third quarter worth about $25,000. Briaud Financial Planning Inc purchased a new position in Genuine Parts in the 3rd quarter worth approximately $28,000. Milestone Investment Advisors LLC bought a new position in shares of Genuine Parts in the 3rd quarter worth $28,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of Genuine Parts during the 3rd quarter valued at $40,000. Finally, Orion Capital Management LLC purchased a new position in Genuine Parts in the third quarter worth $42,000. Institutional investors own 78.83% of the company’s stock.

Insider Transactions at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction 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 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 this hyperlink. Company insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on GPC shares. Evercore ISI dropped their price target on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Truist Financial upped their price objective on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Wedbush restated a “neutral” rating and issued a $170.00 price objective (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Finally, Jefferies Financial Group increased their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $173.10.

Genuine Parts Stock Performance

GPC traded down $0.72 during trading on Monday, hitting $156.69. The company’s stock had a trading volume of 907,200 shares, compared to its average volume of 1,061,680. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. Genuine Parts has a one year low of $126.35 and a one year high of $174.91. The firm has a market cap of $21.83 billion, a PE ratio of 17.55 and a beta of 0.94. The business’s 50 day simple moving average is $153.39 and its 200-day simple moving average is $143.24.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, beating the consensus estimate of $2.15 by $0.07. The firm had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The company’s revenue was up .3% on a year-over-year basis. During the same period last year, the firm earned $2.14 EPS. As a group, sell-side analysts predict that Genuine Parts will post 9.94 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a dividend of $1.00 per share. The ex-dividend date is Friday, June 7th. This represents a $4.00 annualized dividend and a yield of 2.55%. Genuine Parts’s 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.