Tyche Wealth Partners LLC Invests $368,000 in Genuine Parts (NYSE:GPC)

Tyche Wealth Partners LLC purchased a new stake in shares of Genuine Parts (NYSE:GPC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,655 shares of the specialty retailer’s stock, valued at approximately $368,000.

Several other institutional investors have also modified their holdings of GPC. Imprint Wealth LLC increased its holdings in shares of Genuine Parts by 16,507.5% during the second quarter. Imprint Wealth LLC now owns 2,611,194 shares of the specialty retailer’s stock valued at $261,119,000 after purchasing an additional 2,595,471 shares during the period. Norges Bank acquired a new position in Genuine Parts during the 4th quarter valued at about $239,384,000. Invesco Ltd. lifted its position in shares of Genuine Parts by 71.1% during the 3rd quarter. Invesco Ltd. now owns 2,590,036 shares of the specialty retailer’s stock valued at $373,949,000 after acquiring an additional 1,076,361 shares during the last quarter. Capital World Investors bought a new stake in shares of Genuine Parts during the 1st quarter worth $124,130,000. Finally, International Assets Investment Management LLC raised its position in shares of Genuine Parts by 15,175.4% during the fourth quarter. International Assets Investment Management LLC now owns 713,056 shares of the specialty retailer’s stock worth $98,758,000 after purchasing an additional 708,388 shares during the period. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

NYSE GPC opened at $144.07 on Thursday. The company has a quick ratio of 0.63, a current ratio of 1.23 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $20.09 billion, a PE ratio of 15.44 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 company has a 50 day moving average price of $149.56 and a two-hundred day moving average price of $142.09.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Thursday, February 15th. The specialty retailer reported $2.26 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.64 billion. During the same quarter in the previous year, the business earned $2.05 EPS. Genuine Parts’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, equities analysts predict that Genuine Parts will post 9.76 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $4.00 dividend on an annualized basis and a yield of 2.78%. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s dividend payout ratio is presently 42.87%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GPC shares. Truist Financial reissued a “buy” rating and issued a $167.00 price target on shares of Genuine Parts in a research note on Friday, April 12th. Wedbush reissued a “neutral” rating and issued a $140.00 target price on shares of Genuine Parts in a research report on Friday, February 16th. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Finally, Evercore ISI lowered their price objective on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research report on Tuesday. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $168.33.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the sale, the director now owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.37% of the company’s stock.

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.