Genuine Parts (NYSE:GPC) Shares Purchased by D.A. Davidson & CO.

D.A. Davidson & CO. lifted its stake in Genuine Parts (NYSE:GPC) by 1.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 45,342 shares of the specialty retailer’s stock after acquiring an additional 622 shares during the quarter. D.A. Davidson & CO.’s holdings in Genuine Parts were worth $6,280,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Daiwa Securities Group Inc. raised its holdings in shares of Genuine Parts by 12.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 13,070 shares of the specialty retailer’s stock valued at $1,887,000 after buying an additional 1,435 shares during the period. WealthPlan Investment Management LLC increased its stake in Genuine Parts by 2,571,950.0% during the third quarter. WealthPlan Investment Management LLC now owns 51,441 shares of the specialty retailer’s stock worth $7,427,000 after purchasing an additional 51,439 shares during the period. Main Street Financial Solutions LLC boosted its stake in shares of Genuine Parts by 17.7% in the third quarter. Main Street Financial Solutions LLC now owns 2,118 shares of the specialty retailer’s stock valued at $306,000 after purchasing an additional 318 shares during the period. SteelPeak Wealth LLC grew its holdings in shares of Genuine Parts by 3.8% in the third quarter. SteelPeak Wealth LLC now owns 13,318 shares of the specialty retailer’s stock valued at $1,935,000 after purchasing an additional 482 shares in the last quarter. Finally, MGO One Seven LLC increased its stake in Genuine Parts by 6.2% during the 3rd quarter. MGO One Seven LLC now owns 9,617 shares of the specialty retailer’s stock worth $1,389,000 after buying an additional 560 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the sale, the director now owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Genuine Parts Stock Down 0.6 %

Genuine Parts stock opened at $150.60 on Wednesday. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $170.57. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. The stock has a 50 day moving average of $154.35 and a two-hundred day moving average of $145.39. The stock has a market capitalization of $20.98 billion, a price-to-earnings ratio of 16.89 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping the consensus estimate of $2.15 by $0.07. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The business’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the business earned $2.14 EPS. As a group, research analysts expect that Genuine Parts will post 9.92 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.00 annualized dividend and a dividend yield of 2.66%. Genuine Parts’s dividend payout ratio is currently 44.59%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GPC. Evercore ISI cut their price objective on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 16th. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Jefferies Financial Group upped their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. Truist Financial increased their price objective on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Finally, Wedbush restated a “neutral” rating and issued a $170.00 price target (up from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $173.10.

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.