Signaturefd LLC Boosts Holdings in Genuine Parts (NYSE:GPC)

Signaturefd LLC grew its position in Genuine Parts (NYSE:GPC) by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,906 shares of the specialty retailer’s stock after acquiring an additional 3,221 shares during the quarter. Signaturefd LLC’s holdings in Genuine Parts were worth $5,593,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its position in Genuine Parts by 5.4% in the 3rd quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock worth $1,103,300,000 after purchasing an additional 401,180 shares during the period. Geode Capital Management LLC raised its holdings in shares of Genuine Parts by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer’s stock worth $458,947,000 after buying an additional 32,858 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Genuine Parts by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer’s stock worth $337,428,000 after acquiring an additional 145,960 shares during the last quarter. Stifel Financial Corp boosted its holdings in Genuine Parts by 1.2% during the 3rd quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer’s stock valued at $287,405,000 after acquiring an additional 25,015 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Genuine Parts by 6.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer’s stock valued at $257,124,000 after acquiring an additional 114,180 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Truist Financial boosted their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Loop Capital assumed coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective for the company. Evercore ISI reduced their target price on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Finally, Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $137.63.

Genuine Parts Stock Up 2.3 %

Shares of NYSE GPC opened at $122.16 on Monday. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The stock’s fifty day simple moving average is $120.41 and its two-hundred day simple moving average is $125.30. The stock has a market capitalization of $16.95 billion, a PE ratio of 18.88 and a beta of 0.93. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.07. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same quarter in the previous year, the firm earned $2.26 earnings per share. As a group, analysts expect that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be given a dividend of $1.03 per share. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a yield of 3.37%. Genuine Parts’s dividend payout ratio is presently 63.68%.

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.