1,947 Shares in Genuine Parts (NYSE:GPC) Purchased by Tectonic Advisors LLC

Tectonic Advisors LLC bought a new stake in Genuine Parts (NYSE:GPC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,947 shares of the specialty retailer’s stock, valued at approximately $270,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GPC. Comerica Bank acquired a new stake in shares of Genuine Parts in the second quarter worth $190,000. Sunbelt Securities Inc. boosted its holdings 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 purchasing an additional 88 shares during the period. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Genuine Parts in the 3rd quarter worth $25,000. OFI Invest Asset Management bought a new position in shares of Genuine Parts during the 3rd quarter worth about $25,000. Finally, First Capital Advisors Group LLC. acquired a new position in shares of Genuine Parts during the second quarter valued at about $31,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts 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 completion of the transaction, the director now directly owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on GPC. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research report on Tuesday. Wedbush restated a “neutral” rating and set a $140.00 price objective on shares of Genuine Parts in a research report on Friday, February 16th. Evercore ISI upped their target price on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday. Finally, Truist Financial lifted their price target on shares of Genuine Parts from $155.00 to $157.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $167.78.

Genuine Parts Stock Down 0.7 %

GPC opened at $152.53 on Wednesday. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $174.91. The firm has a market cap of $21.27 billion, a price-to-earnings ratio of 16.35 and a beta of 0.94. The firm’s 50-day simple moving average is $146.95 and its 200-day simple moving average is $141.70. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.63 and a current ratio of 1.23.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, February 15th. The specialty retailer reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.06. Genuine Parts had a net margin of 5.70% and a return on equity of 31.64%. The firm had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.64 billion. During the same period in the prior year, the firm earned $2.05 earnings per share. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities research analysts anticipate that Genuine Parts will post 9.77 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be paid a $1.00 dividend. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $4.00 dividend on an annualized basis and a yield of 2.62%. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s payout ratio is currently 42.87%.

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.