Genuine Parts (NYSE:GPC) Shares Acquired by Signaturefd LLC

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

Other large investors have also recently made changes to their positions in the company. State Street Corp raised its stake 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 acquiring an additional 401,180 shares during the last quarter. Geode Capital Management LLC raised its stake 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 purchasing an additional 32,858 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Genuine Parts by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer’s stock worth $337,428,000 after purchasing an additional 145,960 shares during the period. Stifel Financial Corp boosted its position in Genuine Parts by 1.2% in the third quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer’s stock valued at $287,405,000 after buying an additional 25,015 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings 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 worth $257,124,000 after buying an additional 114,180 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. 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 report on Wednesday, February 19th. Loop Capital initiated coverage on Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price target on the stock. Finally, Evercore ISI decreased their price objective on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $137.63.

Genuine Parts Stock Performance

NYSE GPC opened at $122.16 on Monday. 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 has a twelve month low of $112.74 and a twelve month high of $164.45. The stock has a 50-day moving average of $120.41 and a 200 day moving average of $125.30. The stock has a market capitalization of $16.95 billion, a price-to-earnings ratio of 18.88 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 25.28% and a net margin of 3.85%. During the same quarter last year, the firm posted $2.26 EPS. Sell-side analysts anticipate that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

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