Genuine Parts (NYSE:GPC) Shares Purchased by Financial Security Advisor Inc.

Financial Security Advisor Inc. increased its stake in shares of Genuine Parts (NYSE:GPC) by 22.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,775 shares of the specialty retailer’s stock after purchasing an additional 328 shares during the quarter. Financial Security Advisor Inc.’s holdings in Genuine Parts were worth $277,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GPC. Norges Bank acquired a new position in Genuine Parts during the 4th quarter worth $215,643,000. International Assets Investment Management LLC boosted its position in shares of Genuine Parts by 15,175.4% during the 4th quarter. International Assets Investment Management LLC now owns 713,056 shares of the specialty retailer’s stock worth $98,758,000 after acquiring an additional 708,388 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Genuine Parts by 27.0% during the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock worth $281,078,000 after acquiring an additional 431,623 shares in the last quarter. Morningstar Investment Services LLC boosted its position in shares of Genuine Parts by 161.2% during the 4th quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock worth $80,066,000 after acquiring an additional 357,091 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Genuine Parts by 23.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,633,941 shares of the specialty retailer’s stock worth $235,916,000 after acquiring an additional 313,438 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GPC. Evercore ISI lowered their price objective on Genuine Parts from $165.00 to $160.00 and set an “in-line” rating for the company in a research report on Tuesday. Truist Financial boosted their target price on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a report on Friday, April 19th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Wedbush reissued 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. Finally, Jefferies Financial Group boosted their target price on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $169.00.

Genuine Parts Stock Performance

GPC traded up $2.13 on Tuesday, hitting $135.98. 1,025,279 shares of the company traded hands, compared to its average volume of 994,840. The company has a 50 day moving average of $147.96 and a 200-day moving average of $146.55. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $18.94 billion, a PE ratio of 15.19 and a beta of 0.92. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $170.57.

Genuine Parts (NYSE:GPC) last issued its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) 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 the consensus estimate 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 for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the business posted $2.14 EPS. Sell-side analysts anticipate that Genuine Parts will post 9.92 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date was Friday, June 7th. Genuine Parts’s dividend payout ratio is currently 44.59%.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the sale, the director now owns 13,006 shares in the company, valued at approximately $1,967,677.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

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.