Harbour Investments Inc. Has $98,000 Stock Holdings in Genuine Parts (NYSE:GPC)

Harbour Investments Inc. decreased its position in Genuine Parts (NYSE:GPC) by 13.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 842 shares of the specialty retailer’s stock after selling 134 shares during the period. Harbour Investments Inc.’s holdings in Genuine Parts were worth $98,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Royce & Associates LP lifted its position in Genuine Parts by 16.0% in the fourth quarter. Royce & Associates LP now owns 14,500 shares of the specialty retailer’s stock worth $1,693,000 after purchasing an additional 2,000 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Genuine Parts by 1.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 7,512 shares of the specialty retailer’s stock worth $877,000 after acquiring an additional 128 shares during the period. First National Trust Co boosted its position in shares of Genuine Parts by 1.5% during the 4th quarter. First National Trust Co now owns 18,449 shares of the specialty retailer’s stock valued at $2,154,000 after acquiring an additional 264 shares in the last quarter. Blume Capital Management Inc. increased its stake in Genuine Parts by 55.1% in the fourth quarter. Blume Capital Management Inc. now owns 698 shares of the specialty retailer’s stock valued at $81,000 after acquiring an additional 248 shares during the period. Finally, LBP AM SA acquired a new position in Genuine Parts in the fourth quarter worth about $4,870,000. Institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on GPC. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Evercore ISI decreased their price target on 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 increased their price objective on Genuine Parts from $129.00 to $133.00 and gave the stock 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 issued a “buy” rating and a $155.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and a consensus target price of $137.63.

Genuine Parts Price Performance

Shares of GPC stock opened at $118.93 on Monday. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The stock has a market capitalization of $16.50 billion, a PE ratio of 18.38 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The stock’s fifty day moving average is $120.99 and its 200-day moving average is $124.58.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping 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 firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter in the prior year, the firm earned $2.26 EPS. Equities research analysts expect that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.46%. The ex-dividend date is Friday, March 7th. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s payout ratio is 63.68%.

About Genuine Parts

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.