Livforsakringsbolaget Skandia Omsesidigt Boosts Stock Holdings in Genuine Parts (NYSE:GPC)

Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Genuine Parts (NYSE:GPC) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,024 shares of the specialty retailer’s stock after acquiring an additional 191 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Genuine Parts were worth $1,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Amalgamated Bank boosted its holdings in Genuine Parts by 10.7% during the 3rd quarter. Amalgamated Bank now owns 41,734 shares of the specialty retailer’s stock worth $6,026,000 after acquiring an additional 4,047 shares during the last quarter. Conning Inc. boosted its holdings in Genuine Parts by 5.9% during the 4th quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock worth $31,501,000 after acquiring an additional 12,634 shares during the last quarter. Teza Capital Management LLC purchased a new position in Genuine Parts during the 3rd quarter worth $1,593,000. LPL Financial LLC boosted its holdings in shares of Genuine Parts by 15.1% in the 3rd quarter. LPL Financial LLC now owns 141,483 shares of the specialty retailer’s stock worth $20,427,000 after buying an additional 18,522 shares during the last quarter. Finally, Schwartz Investment Counsel Inc. boosted its holdings in shares of Genuine Parts by 26.2% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 240,500 shares of the specialty retailer’s stock worth $33,309,000 after buying an additional 50,000 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Genuine Parts Trading Up 9.6 %

Shares of GPC opened at $157.92 on Thursday. The business’s 50-day moving average price is $149.56 and its 200-day moving average price is $142.09. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $174.91. The stock has a market cap of $22.02 billion, a PE ratio of 15.44 and a beta of 0.94. The company has a quick ratio of 0.63, a current ratio of 1.23 and a debt-to-equity ratio of 0.80.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.06. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The firm had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. During the same period in the prior year, the business posted $2.14 earnings per share. The company’s revenue was up .3% on a year-over-year basis. On average, equities analysts forecast that Genuine Parts will post 9.76 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders 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 is a boost from Genuine Parts’s previous quarterly dividend of $0.95. This represents a $4.00 annualized dividend and a dividend yield of 2.53%. Genuine Parts’s dividend payout ratio is currently 42.87%.

Insider Activity

In other news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the sale, the director now directly owns 14,397 shares in the company, valued at $2,230,383.24. The sale was disclosed in a document filed with the SEC, which is available at this link. 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.