Advisors Asset Management Inc. Acquires 4,850 Shares of Genuine Parts (NYSE:GPC)

Advisors Asset Management Inc. boosted its holdings in shares of Genuine Parts (NYSE:GPC) by 12.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,646 shares of the specialty retailer’s stock after purchasing an additional 4,850 shares during the quarter. Advisors Asset Management Inc.’s holdings in Genuine Parts were worth $6,762,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in Genuine Parts by 7.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,707,699 shares of the specialty retailer’s stock valued at $353,436,000 after acquiring an additional 185,913 shares in the last quarter. Stifel Financial Corp raised its holdings in Genuine Parts by 27.0% in the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after acquiring an additional 431,623 shares in the last quarter. Norges Bank acquired a new position in Genuine Parts in the 4th quarter valued at approximately $215,643,000. Dimensional Fund Advisors LP raised its holdings in Genuine Parts by 13.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,081,344 shares of the specialty retailer’s stock valued at $149,766,000 after acquiring an additional 129,472 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Genuine Parts by 15,175.4% in the 4th quarter. International Assets Investment Management LLC now owns 713,056 shares of the specialty retailer’s stock valued at $98,758,000 after acquiring an additional 708,388 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on GPC shares. The Goldman Sachs Group cut their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday. Evercore ISI dropped their target price on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a report on Wednesday. Truist Financial dropped their target price on Genuine Parts from $183.00 to $164.00 and set a “buy” rating for the company in a report on Tuesday. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Wedbush dropped their target price on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Price Performance

GPC stock traded up $4.10 during midday trading on Friday, reaching $142.07. 988,166 shares of the company’s stock traded hands, compared to its average volume of 1,026,128. The company has a 50-day simple moving average of $140.51 and a two-hundred day simple moving average of $146.26. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $164.45. The company has a market cap of $19.79 billion, a price-to-earnings ratio of 15.87 and a beta of 0.92. The company has a quick ratio of 0.59, a current ratio of 1.12 and a debt-to-equity ratio of 0.66.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The business had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.03 billion. During the same period in the prior year, the business earned $2.44 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, analysts anticipate that Genuine Parts will post 9.36 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were issued a dividend of $1.00 per share. The ex-dividend date was Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a yield of 2.82%. Genuine Parts’s dividend payout ratio is 44.59%.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of the stock in a transaction 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 transaction, the director now directly owns 13,006 shares in the company, valued at approximately $1,967,677.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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.