Atria Wealth Solutions Inc. Has $1.60 Million Stock Holdings in Genuine Parts (NYSE:GPC)

Atria Wealth Solutions Inc. raised its stake in Genuine Parts (NYSE:GPC) by 6.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,500 shares of the specialty retailer’s stock after acquiring an additional 687 shares during the period. Atria Wealth Solutions Inc.’s holdings in Genuine Parts were worth $1,603,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GPC. Amalgamated Bank increased its stake in shares of Genuine Parts by 10.7% in the 3rd quarter. Amalgamated Bank now owns 41,734 shares of the specialty retailer’s stock valued at $6,026,000 after purchasing an additional 4,047 shares during the last quarter. Conning Inc. increased its stake in shares of Genuine Parts by 5.9% in the 4th quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock valued at $31,501,000 after purchasing an additional 12,634 shares during the last quarter. Hunter Associates Investment Management LLC increased its stake in shares of Genuine Parts by 20.7% in the 4th quarter. Hunter Associates Investment Management LLC now owns 11,891 shares of the specialty retailer’s stock valued at $1,646,000 after purchasing an additional 2,041 shares during the last quarter. Teza Capital Management LLC bought a new position in shares of Genuine Parts in the 3rd quarter valued at $1,593,000. Finally, Schwartz Investment Counsel Inc. increased its stake in shares of Genuine Parts by 26.2% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 240,500 shares of the specialty retailer’s stock valued at $33,309,000 after purchasing an additional 50,000 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on GPC. Truist Financial lifted their price target on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Wedbush restated a “neutral” rating and set a $170.00 price objective (up previously from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Jefferies Financial Group boosted their price objective on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Finally, Evercore ISI reduced 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. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $173.10.

Genuine Parts Stock Down 2.6 %

Shares of GPC opened at $157.21 on Wednesday. The company has a market capitalization of $21.90 billion, a PE ratio of 17.53 and a beta of 0.94. Genuine Parts has a 12 month low of $126.35 and a 12 month high of $174.91. The stock’s 50-day moving average price is $152.49 and its two-hundred day moving average price is $143.02. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69.

Genuine Parts (NYSE:GPC) last announced 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 firm had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.14 EPS. On average, analysts anticipate that Genuine Parts will post 9.89 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.54%. Genuine Parts’s dividend payout ratio is 44.59%.

Insider Activity

In other news, Director Wendy B. Needham sold 3,250 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the transaction, the director now directly owns 14,397 shares of the company’s stock, valued at approximately $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. 0.37% of the stock is owned by company insiders.

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.