Genuine Parts (NYSE:GPC) Shares Bought by Morton Community Bank

Morton Community Bank increased its holdings in Genuine Parts (NYSE:GPC) by 2.9% during the fourth quarter, Holdings Channel reports. The firm owned 23,366 shares of the specialty retailer’s stock after purchasing an additional 650 shares during the period. Morton Community Bank’s holdings in Genuine Parts were worth $2,728,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in shares of Genuine Parts in the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP bought a new stake in shares of Genuine Parts in the 3rd quarter worth approximately $31,000. Kestra Investment Management LLC bought a new stake in shares of Genuine Parts in the 4th quarter worth approximately $28,000. First Command Advisory Services Inc. bought a new stake in shares of Genuine Parts in the 4th quarter worth approximately $28,000. Finally, Compass Planning Associates Inc bought a new stake in shares of Genuine Parts in the 4th quarter worth approximately $29,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Up 1.2 %

Genuine Parts stock opened at $127.41 on Monday. The firm has a market cap of $17.68 billion, a PE ratio of 19.69 and a beta of 0.93. 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 firm’s 50 day moving average price is $119.74 and its two-hundred day moving average price is $125.97. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45.

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

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.23%. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts’s payout ratio is currently 63.68%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Truist Financial boosted their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Evercore ISI cut their price target on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Finally, Loop Capital began coverage on shares of Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 price target on the stock. Eight equities 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. According to data from MarketBeat, Genuine Parts presently has an average rating of “Hold” and a consensus target price of $137.63.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 11,357 shares of the company’s stock, 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 legal filing with the SEC, which is available at this hyperlink. Insiders own 0.37% of the company’s stock.

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.