Centric Wealth Management Buys Shares of 17,531 Genuine Parts (NYSE:GPC)

Centric Wealth Management purchased a new position in Genuine Parts (NYSE:GPC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,531 shares of the specialty retailer’s stock, valued at approximately $2,457,000.

Several other institutional investors have also made changes to their positions in GPC. Cambridge Trust Co. boosted its position in Genuine Parts by 27.7% during the third quarter. Cambridge Trust Co. now owns 9,693 shares of the specialty retailer’s stock valued at $1,399,000 after purchasing an additional 2,104 shares during the last quarter. Community Bank N.A. bought a new stake in shares of Genuine Parts in the 3rd quarter valued at approximately $433,000. Simmons Bank increased its holdings in Genuine Parts by 8.1% in the third quarter. Simmons Bank now owns 16,051 shares of the specialty retailer’s stock worth $2,317,000 after buying an additional 1,208 shares during the last quarter. SeaBridge Investment Advisors LLC bought a new position in Genuine Parts during the third quarter valued at approximately $474,000. Finally, Gradient Investments LLC raised its position in Genuine Parts by 381.1% during the third quarter. Gradient Investments LLC now owns 587 shares of the specialty retailer’s stock valued at $85,000 after acquiring an additional 465 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

GPC stock traded down $0.76 during trading on Wednesday, reaching $154.16. 292,079 shares of the stock were exchanged, compared to its average volume of 1,054,151. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $174.91. The company has a market capitalization of $21.47 billion, a P/E ratio of 17.27 and a beta of 0.94. The stock has a 50 day simple moving average of $153.64 and a 200-day simple moving average of $143.61. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69.

Genuine Parts (NYSE:GPC) last posted 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 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 business’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.14 earnings per share. As a group, sell-side analysts anticipate that Genuine Parts will post 9.94 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, June 7th. This represents a $4.00 annualized dividend and a dividend yield of 2.59%. Genuine Parts’s dividend payout ratio (DPR) is presently 44.59%.

Wall Street Analyst Weigh In

GPC has been the subject of several analyst reports. 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 increased their price objective on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a report on Friday, April 19th. Wedbush restated a “neutral” rating and issued a $170.00 target price (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Jefferies Financial Group lifted their price target 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. Finally, Evercore ISI decreased their price objective on shares of 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 analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $173.10.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the 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 completion of the transaction, 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 accessible through this hyperlink. 0.37% of the stock is owned by 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.