Genuine Parts (NYSE:GPC) Shares Bought by Bruce G. Allen Investments LLC

Bruce G. Allen Investments LLC grew its stake in Genuine Parts (NYSE:GPC) by 131.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 618 shares of the specialty retailer’s stock after buying an additional 351 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in Genuine Parts were worth $72,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Wulff Hansen & CO. lifted its stake in shares of Genuine Parts by 13,732.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock valued at $216,675,000 after purchasing an additional 1,555,149 shares during the period. International Assets Investment Management LLC raised its position in shares of Genuine Parts by 14,222.1% in the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock worth $81,621,000 after acquiring an additional 580,262 shares during the period. State Street Corp boosted its stake in shares of Genuine Parts by 5.4% during the 3rd quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock worth $1,103,300,000 after acquiring an additional 401,180 shares in the last quarter. Boston Trust Walden Corp acquired a new stake in shares of Genuine Parts during the 3rd quarter valued at about $39,474,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Genuine Parts by 1,038.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer’s stock valued at $38,803,000 after purchasing an additional 253,400 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

GPC traded down $0.52 during trading on Friday, reaching $116.01. The company’s stock had a trading volume of 861,865 shares, compared to its average volume of 977,290. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The firm has a fifty day simple moving average of $120.89 and a two-hundred day simple moving average of $131.29. The company has a market cap of $16.13 billion, a price-to-earnings ratio of 14.93 and a beta of 0.95. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same period last year, the firm posted $2.49 EPS. The business’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, analysts anticipate that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Insider Buying and Selling at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the sale, the director now directly owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on the company. Wedbush dropped their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Evercore ISI lifted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Truist Financial decreased their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Finally, UBS Group lowered their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $139.57.

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.