Genuine Parts (NYSE:GPC) Shares Acquired by West Tower Group LLC

West Tower Group LLC grew its holdings in Genuine Parts (NYSE:GPC) by 80.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,600 shares of the specialty retailer’s stock after purchasing an additional 1,600 shares during the quarter. West Tower Group LLC’s holdings in Genuine Parts were worth $420,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of GPC. Kestra Investment Management LLC acquired a new stake in shares of Genuine Parts in the fourth quarter valued at approximately $28,000. First Command Advisory Services Inc. acquired a new stake in shares of Genuine Parts in the fourth quarter valued at approximately $28,000. Compass Planning Associates Inc acquired a new stake in shares of Genuine Parts in the fourth quarter valued at approximately $29,000. Synergy Asset Management LLC purchased a new position in shares of Genuine Parts during the fourth quarter valued at approximately $32,000. Finally, OFI Invest Asset Management purchased a new position in shares of Genuine Parts during the fourth quarter valued at approximately $34,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

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

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The business had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter last year, the firm posted $2.26 EPS. Analysts expect that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The firm 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 $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio (DPR) is currently 63.68%.

Analysts Set New Price Targets

GPC has been the topic of several recent analyst reports. Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. 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 research note on Wednesday, February 19th. Truist Financial upped their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Loop Capital initiated coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective on the stock. Eight analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $137.63.

Genuine Parts 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.