Barlow Wealth Partners Inc. Takes Position in Genuine Parts (NYSE:GPC)

Barlow Wealth Partners Inc. acquired a new position in Genuine Parts (NYSE:GPC) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,138 shares of the specialty retailer’s stock, valued at approximately $573,000.

Other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. lifted its position in Genuine Parts by 71.1% in the 3rd quarter. Invesco Ltd. now owns 2,590,036 shares of the specialty retailer’s stock worth $373,949,000 after buying an additional 1,076,361 shares in the last quarter. International Assets Investment Management LLC grew its stake in Genuine Parts by 15,175.4% in the fourth quarter. International Assets Investment Management LLC now owns 713,056 shares of the specialty retailer’s stock valued at $98,758,000 after purchasing an additional 708,388 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Genuine Parts by 17.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,521,786 shares of the specialty retailer’s stock worth $345,130,000 after purchasing an additional 367,665 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Genuine Parts by 23.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,633,941 shares of the specialty retailer’s stock valued at $235,916,000 after buying an additional 313,438 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Genuine Parts by 19.8% in the third quarter. Envestnet Asset Management Inc. now owns 892,717 shares of the specialty retailer’s stock worth $128,890,000 after buying an additional 147,674 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Trading Down 0.4 %

Shares of Genuine Parts stock traded down $0.59 during trading on Wednesday, reaching $154.33. 928,733 shares of the company were exchanged, compared to its average volume of 1,061,607. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $174.91. The business has a 50-day moving average price of $153.64 and a 200-day moving average price of $143.61. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $21.50 billion, a price-to-earnings ratio of 17.27 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping 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 net margin of 5.46% and a return on equity of 30.92%. Genuine Parts’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the firm earned $2.14 earnings per share. Sell-side analysts anticipate that Genuine Parts will post 9.94 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Friday, June 7th. Genuine Parts’s payout ratio is presently 44.59%.

Analyst Upgrades and Downgrades

GPC has been the topic of several analyst reports. Wedbush restated a “neutral” rating and set a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Jefferies Financial Group raised their target price on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Truist Financial boosted 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. Finally, Evercore ISI lowered their price target on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $173.10.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the sale, the director now directly owns 14,397 shares in the company, valued at approximately $2,230,383.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.37% of the company’s stock.

Genuine Parts 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.