Genuine Parts (NYSE:GPC) Shares Acquired by Independent Advisor Alliance

Independent Advisor Alliance lifted its position in shares of Genuine Parts (NYSE:GPC) by 40.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 28,092 shares of the specialty retailer’s stock after acquiring an additional 8,098 shares during the period. Independent Advisor Alliance’s holdings in Genuine Parts were worth $3,280,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quantinno Capital Management LP raised its stake in shares of Genuine Parts by 74.0% during the 3rd quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock worth $1,580,000 after buying an additional 4,809 shares during the last quarter. Caprock Group LLC acquired a new position in shares of Genuine Parts during the 4th quarter worth $540,000. Miramar Capital LLC increased its position in Genuine Parts by 9.8% during the 3rd quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock worth $12,264,000 after purchasing an additional 7,845 shares in the last quarter. Verity & Verity LLC increased its position in Genuine Parts by 9.7% during the 4th quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock worth $12,198,000 after purchasing an additional 9,199 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in Genuine Parts during the 4th quarter worth about $21,840,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GPC shares. Loop Capital started coverage on Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. Evercore ISI dropped their price objective on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Truist Financial lifted their price objective on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Eight 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 company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $137.63.

Genuine Parts Stock Down 1.8 %

GPC opened at $121.33 on Thursday. 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 stock has a market capitalization of $16.84 billion, a price-to-earnings ratio of 18.75 and a beta of 0.93. The business has a 50-day moving average of $120.24 and a two-hundred day moving average of $125.73. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (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 analysts’ expectations of $5.71 billion. During the same quarter in the previous year, the business earned $2.26 EPS. On average, research analysts expect that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be issued a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.40%. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s payout ratio is presently 63.68%.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the transaction, the director now directly owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.42% 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.