ERTS Wealth Advisors LLC Raises Stake in Genuine Parts (NYSE:GPC)

ERTS Wealth Advisors LLC increased its stake in Genuine Parts (NYSE:GPCFree Report) by 11.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,118 shares of the specialty retailer’s stock after buying an additional 217 shares during the quarter. ERTS Wealth Advisors LLC’s holdings in Genuine Parts were worth $293,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GPC. Householder Group Estate & Retirement Specialist LLC bought a new stake in Genuine Parts in the 3rd quarter valued at about $25,000. OFI Invest Asset Management bought a new stake in Genuine Parts in the 3rd quarter valued at about $25,000. Sunbelt Securities Inc. raised its stake in Genuine Parts by 122.2% in the 2nd quarter. Sunbelt Securities Inc. now owns 160 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 88 shares during the period. Briaud Financial Planning Inc bought a new stake in Genuine Parts in the 3rd quarter valued at about $28,000. Finally, Milestone Investment Advisors LLC bought a new stake in Genuine Parts in the 3rd quarter valued at about $28,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GPC shares. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research report on Tuesday, March 26th. Evercore ISI upped their price target on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, March 26th. Wedbush reiterated a “neutral” rating and set a $140.00 price target on shares of Genuine Parts in a research report on Friday, February 16th. Finally, Truist Financial upped their price target on Genuine Parts from $157.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $168.89.

Get Our Latest Report on Genuine Parts

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the transaction, the director now owns 14,397 shares in the company, valued at $2,230,383.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.37% of the company’s stock.

Genuine Parts Stock Down 0.4 %

Shares of NYSE GPC opened at $153.14 on Thursday. Genuine Parts has a one year low of $126.35 and a one year high of $174.91. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.23 and a quick ratio of 0.63. The firm’s 50 day simple moving average is $148.52 and its two-hundred day simple moving average is $141.99. The stock has a market capitalization of $21.35 billion, a P/E ratio of 16.41 and a beta of 0.94.

Genuine Parts (NYSE:GPCGet Free Report) last issued its quarterly earnings results on Thursday, February 15th. The specialty retailer reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.06. Genuine Parts had a net margin of 5.70% and a return on equity of 31.64%. The business had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.64 billion. During the same period last year, the business earned $2.05 earnings per share. The business’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, analysts expect that Genuine Parts will post 9.77 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a $1.00 dividend. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.61%. Genuine Parts’s dividend payout ratio (DPR) is currently 42.87%.

Genuine Parts Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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