Enhancing Capital LLC Invests $305,000 in Genuine Parts (NYSE:GPC)

Enhancing Capital LLC purchased a new position in shares of Genuine Parts (NYSE:GPC) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 2,610 shares of the specialty retailer’s stock, valued at approximately $305,000.

Other institutional investors have also modified their holdings of the company. Kestra Investment Management LLC purchased a new position in shares of Genuine Parts during the 4th quarter worth $28,000. First Command Advisory Services Inc. purchased a new position in shares of Genuine Parts during the 4th quarter worth $28,000. Compass Planning Associates Inc purchased a new stake in Genuine Parts in the 4th quarter valued at about $29,000. Synergy Asset Management LLC purchased a new stake in Genuine Parts in the 4th quarter valued at about $32,000. Finally, OFI Invest Asset Management purchased a new stake in Genuine Parts in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GPC. Evercore ISI reduced their price objective 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. Truist Financial boosted their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Loop Capital began coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective on the stock. Finally, Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $137.63.

Genuine Parts Stock Up 0.4 %

Shares of NYSE:GPC opened at $123.98 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The firm has a market capitalization of $17.21 billion, a PE ratio of 19.16 and a beta of 0.93. The firm’s 50-day moving average is $120.68 and its two-hundred day moving average is $125.03. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45.

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

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be given a dividend of $1.03 per share. The ex-dividend date is Friday, March 7th. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.32%. Genuine Parts’s payout ratio is currently 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.