Handelsbanken Fonder AB Grows Stake in Genuine Parts (NYSE:GPC)

Handelsbanken Fonder AB lifted its position in shares of Genuine Parts (NYSE:GPC) by 16.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,913 shares of the specialty retailer’s stock after acquiring an additional 12,945 shares during the period. Handelsbanken Fonder AB owned approximately 0.07% of Genuine Parts worth $10,615,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of GPC. Ashton Thomas Securities LLC bought a new stake in shares of Genuine Parts in the third quarter worth approximately $26,000. Kestra Investment Management LLC purchased a new stake in shares of Genuine Parts in the 4th quarter worth $28,000. Capital Performance Advisors LLP bought a new position in shares of Genuine Parts in the third quarter worth about $31,000. Synergy Asset Management LLC bought a new stake in Genuine Parts during the 4th quarter worth approximately $32,000. Finally, Concord Wealth Partners raised its position in shares of Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 119 shares during the period. Institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GPC shares. Loop Capital assumed coverage on Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target on the stock. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. 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 research report on Wednesday. Evercore ISI reduced their price target on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a report on Wednesday. Finally, Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Eight equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $137.63.

Genuine Parts Trading Down 1.3 %

Shares of NYSE:GPC opened at $121.68 on Friday. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The business’s fifty day simple moving average is $118.29 and its 200-day simple moving average is $127.07. The company has a market capitalization of $16.92 billion, a PE ratio of 18.81 and a beta of 0.94. 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 (NYSE:GPC) last announced its earnings results 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. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The company 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 firm earned $2.26 earnings per share. As a group, equities research analysts predict that Genuine Parts will post 7.9 earnings per share 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. Shareholders of record on Friday, March 7th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.39%. The ex-dividend date is Friday, March 7th. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s payout ratio is currently 63.68%.

Insider Activity

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the firm’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 transaction of $194,214.24. Following the completion of the transaction, the director now directly owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate 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.