Crossmark Global Holdings Inc. lifted its position in shares of Genuine Parts (NYSE:GPC – Get Rating) by 8.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,650 shares of the specialty retailer's stock after purchasing an additional 970 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Genuine Parts were worth $2,194,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. WD Rutherford LLC acquired a new stake in shares of Genuine Parts during the 3rd quarter worth approximately $25,000. Dupont Capital Management Corp grew its stake in shares of Genuine Parts by 128.0% during the 3rd quarter. Dupont Capital Management Corp now owns 171 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 96 shares during the period. BDO Wealth Advisors LLC grew its stake in shares of Genuine Parts by 113.2% during the 3rd quarter. BDO Wealth Advisors LLC now owns 226 shares of the specialty retailer's stock worth $34,000 after purchasing an additional 120 shares during the period. Ronald Blue Trust Inc. acquired a new stake in shares of Genuine Parts during the 2nd quarter worth approximately $38,000. Finally, Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Genuine Parts during the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 78.14% of the company's stock.
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In related news, CEO Paul D. Donahue bought 1,600 shares of the company's stock in a transaction on Friday, March 24th. The stock was bought at an average cost of $156.08 per share, for a total transaction of $249,728.00. Following the acquisition, the chief executive officer now directly owns 59,727 shares in the company, valued at $9,322,190.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.39% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on GPC shares. StockNews.com started coverage on Genuine Parts in a research report on Thursday, March 16th. They set a "buy" rating on the stock. The Goldman Sachs Group increased their target price on Genuine Parts from $147.00 to $157.00 and gave the company a "sell" rating in a research report on Thursday, February 23rd. Truist Financial upgraded Genuine Parts from a "hold" rating to a "buy" rating and set a $186.00 target price on the stock in a research report on Friday, March 24th. Finally, Wedbush reiterated a "neutral" rating on shares of Genuine Parts in a research report on Friday, February 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $152.20.
Genuine Parts Stock Up 1.1 %
NYSE GPC opened at $164.37 on Friday. The business has a fifty day moving average price of $168.75 and a 200 day moving average price of $169.71. Genuine Parts has a one year low of $124.85 and a one year high of $187.73. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.15. The company has a market cap of $23.14 billion, a P/E ratio of 19.78, a P/E/G ratio of 1.77 and a beta of 0.90.
Genuine Parts (NYSE:GPC – Get Rating) last issued its earnings results on Thursday, February 23rd. The specialty retailer reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.15. The company had revenue of $5.52 billion during the quarter, compared to analysts' expectations of $5.33 billion. Genuine Parts had a return on equity of 32.22% and a net margin of 5.35%. The firm's quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.79 EPS. Research analysts anticipate that Genuine Parts will post 8.93 EPS for the current fiscal year.
Genuine Parts Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, March 3rd will be issued a $0.95 dividend. This is a boost from Genuine Parts's previous quarterly dividend of $0.90. This represents a $3.80 annualized dividend and a yield of 2.31%. The ex-dividend date is Thursday, March 2nd. Genuine Parts's dividend payout ratio is presently 45.73%.
Genuine Parts Profile
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Genuine Parts Co engages in the distribution of automotive and industrial replacement parts. It operates through the following segments: Automotive Parts Group, Industrial Parts Group, and Corporate. The Automotive Parts Group segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.
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