Genuine Parts (NYSE:GPC) Shares Bought by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI boosted its holdings in shares of Genuine Parts (NYSE:GPC) by 11.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,188 shares of the specialty retailer’s stock after buying an additional 447 shares during the period. Parsons Capital Management Inc. RI’s holdings in Genuine Parts were worth $649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Raymond James & Associates increased its position in Genuine Parts by 44.0% during the 1st quarter. Raymond James & Associates now owns 342,957 shares of the specialty retailer’s stock valued at $53,134,000 after buying an additional 104,762 shares in the last quarter. Hendershot Investments Inc. increased its position in Genuine Parts by 1.4% during the 1st quarter. Hendershot Investments Inc. now owns 118,459 shares of the specialty retailer’s stock valued at $18,353,000 after buying an additional 1,646 shares in the last quarter. Mezzasalma Advisors LLC increased its position in Genuine Parts by 497.0% during the 1st quarter. Mezzasalma Advisors LLC now owns 12,035 shares of the specialty retailer’s stock valued at $1,865,000 after buying an additional 10,019 shares in the last quarter. Teamwork Financial Advisors LLC acquired a new position in Genuine Parts during the 1st quarter valued at about $202,000. Finally, First Trust Direct Indexing L.P. increased its position in Genuine Parts by 16.7% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,656 shares of the specialty retailer’s stock valued at $566,000 after buying an additional 522 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts 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 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 available through this hyperlink. Insiders own 0.37% of the company’s stock.

Genuine Parts Price Performance

NYSE GPC traded down $1.14 during trading hours on Friday, reaching $159.93. The company’s stock had a trading volume of 1,003,681 shares, compared to its average volume of 1,198,481. The firm has a market capitalization of $22.28 billion, a price-to-earnings ratio of 17.83 and a beta of 0.94. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $174.91. 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 company’s 50-day moving average is $152.13 and its two-hundred day moving average is $142.92.

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

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a dividend of $1.00 per share. The ex-dividend date was Thursday, February 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.50%. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s dividend payout ratio is presently 44.59%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Truist Financial boosted their price target on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Jefferies Financial Group boosted their price target on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research note 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. Wedbush reiterated 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. Finally, Evercore ISI dropped their price target on 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. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $173.10.

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.