Genuine Parts (NYSE:GPC) Shares Bought by Sound Financial Strategies Group LLC

Sound Financial Strategies Group LLC grew its position in shares of Genuine Parts (NYSE:GPC) by 33.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,581 shares of the specialty retailer’s stock after acquiring an additional 1,155 shares during the quarter. Sound Financial Strategies Group LLC’s holdings in Genuine Parts were worth $535,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Equity Investment Corp bought a new position in Genuine Parts during the 4th quarter worth approximately $84,128,000. State Street Corp increased 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 valued at $1,103,300,000 after acquiring an additional 401,180 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Genuine Parts by 1,038.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer’s stock valued at $38,803,000 after purchasing an additional 253,400 shares during the period. Synovus Financial Corp increased its position in shares of Genuine Parts by 95.4% during the 3rd quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer’s stock valued at $54,708,000 after purchasing an additional 191,272 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in shares of Genuine Parts during the 4th quarter worth $21,840,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the transaction, the director now owns 11,357 shares in the company, valued at $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on GPC shares. Loop Capital started coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price for the company. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a report on Monday, November 11th. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Evercore ISI dropped their price objective on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Finally, Truist Financial upped their price target on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Eight investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $137.63.

Genuine Parts Trading Down 0.8 %

Genuine Parts stock opened at $123.00 on Wednesday. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The stock has a market capitalization of $17.07 billion, a P/E ratio of 19.01 and a beta of 0.94. The stock has a 50-day simple moving average of $119.21 and a 200 day simple moving average of $126.29.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same period last year, the business posted $2.26 earnings per share. Analysts expect that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Friday, March 7th. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s payout ratio is presently 63.68%.

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.