Heritage Wealth Management LLC Purchases New Stake in Genuine Parts (NYSE:GPC)

Heritage Wealth Management LLC bought a new stake in shares of Genuine Parts (NYSE:GPC) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 4,757 shares of the specialty retailer’s stock, valued at approximately $659,000.

Several other hedge funds also recently modified their holdings of GPC. Amalgamated Bank boosted its stake in Genuine Parts by 10.7% in the third quarter. Amalgamated Bank now owns 41,734 shares of the specialty retailer’s stock valued at $6,026,000 after acquiring an additional 4,047 shares during the last quarter. ICW Investment Advisors LLC boosted its position in shares of Genuine Parts by 2.8% in the 4th quarter. ICW Investment Advisors LLC now owns 8,084 shares of the specialty retailer’s stock worth $1,120,000 after purchasing an additional 221 shares during the last quarter. Conning Inc. grew its stake in shares of Genuine Parts by 5.9% during the fourth quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock worth $31,501,000 after purchasing an additional 12,634 shares during the period. Hunter Associates Investment Management LLC increased its holdings in Genuine Parts by 20.7% in the fourth 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. Finally, Teza Capital Management LLC bought a new stake in Genuine Parts in the third quarter valued at about $1,593,000. Institutional investors own 78.83% of the company’s stock.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Truist Financial raised their target price on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Evercore ISI reduced 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 note on Tuesday, April 16th. Wedbush reiterated a “neutral” rating and issued a $170.00 target price (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Jefferies Financial Group boosted their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. Finally, StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $173.10.

Genuine Parts Stock Up 0.2 %

Shares of GPC traded up $0.34 during midday trading on Thursday, hitting $157.11. The stock had a trading volume of 102,714 shares, compared to its average volume of 1,060,147. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. The firm has a market cap of $21.89 billion, a price-to-earnings ratio of 17.48 and a beta of 0.94. The company has a 50 day simple moving average of $153.00 and a two-hundred day simple moving average of $143.18. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $174.91.

Genuine Parts (NYSE:GPC) last announced its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. The business had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. Genuine Parts’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.14 EPS. On average, analysts anticipate that Genuine Parts will post 9.89 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Friday, June 7th. Genuine Parts’s payout ratio is 44.59%.

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.