Barlow Wealth Partners Inc. Acquires New Holdings in Genuine Parts (NYSE:GPC)

Barlow Wealth Partners Inc. acquired a new stake in shares of Genuine Parts (NYSE:GPC) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 4,138 shares of the specialty retailer’s stock, valued at approximately $573,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Cambridge Trust Co. raised its stake in Genuine Parts by 27.7% during the third quarter. Cambridge Trust Co. now owns 9,693 shares of the specialty retailer’s stock valued at $1,399,000 after purchasing an additional 2,104 shares in the last quarter. Community Bank N.A. purchased a new position in shares of Genuine Parts in the 3rd quarter worth approximately $433,000. Simmons Bank boosted its holdings in shares of Genuine Parts by 8.1% in the 3rd quarter. Simmons Bank now owns 16,051 shares of the specialty retailer’s stock worth $2,317,000 after purchasing an additional 1,208 shares during the period. SeaBridge Investment Advisors LLC bought a new position in shares of Genuine Parts during the 3rd quarter valued at approximately $474,000. Finally, Gradient Investments LLC raised its holdings in Genuine Parts by 381.1% during the 3rd quarter. Gradient Investments LLC now owns 587 shares of the specialty retailer’s stock valued at $85,000 after buying an additional 465 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction 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 transaction, the director now owns 14,397 shares in the company, valued at approximately $2,230,383.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is owned by insiders.

Genuine Parts Stock Performance

Shares of NYSE:GPC traded down $0.59 on Wednesday, hitting $154.33. 928,733 shares of the company were exchanged, compared to its average volume of 1,061,607. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. The stock’s 50 day moving average price is $153.64 and its 200 day moving average price is $143.61. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $174.91. The firm has a market capitalization of $21.50 billion, a P/E ratio of 17.27 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, beating the consensus estimate of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same period in the previous year, the business posted $2.14 EPS. The business’s quarterly revenue was up .3% compared to the same quarter last year. Sell-side analysts predict that Genuine Parts will post 9.94 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. Stockholders of record on Friday, June 7th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Friday, June 7th. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GPC. Wedbush reiterated a “neutral” rating and set a $170.00 price objective (up previously from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Truist Financial raised their price objective on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Jefferies Financial Group upped their target price 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 raised Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Finally, Evercore ISI cut their price objective on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 16th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $173.10.

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.