Nilsine Partners LLC Takes $235,000 Position in Genuine Parts (NYSE:GPC)

Nilsine Partners LLC purchased a new stake in Genuine Parts (NYSE:GPC) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,517 shares of the specialty retailer’s stock, valued at approximately $235,000.

Several other hedge funds have also added to or reduced their stakes in GPC. OFI Invest Asset Management bought a new position in Genuine Parts in the third quarter valued at about $25,000. Assetmark Inc. boosted its holdings in Genuine Parts by 109.1% in the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 96 shares during the last quarter. WD Rutherford LLC bought a new position in Genuine Parts in the first quarter valued at about $26,000. Briaud Financial Planning Inc bought a new position in Genuine Parts in the third quarter valued at about $28,000. Finally, Milestone Investment Advisors LLC bought a new position in Genuine Parts in the third quarter valued at about $28,000. Institutional investors own 78.83% of the company’s stock.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the sale, the director now owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.37% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Truist Financial raised their price target on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a report on Friday, April 19th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Jefferies Financial Group raised their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Evercore ISI reduced their target price on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Finally, Wedbush restated a “neutral” rating and set a $170.00 target price (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $173.10.

Genuine Parts Stock Down 2.6 %

Shares of NYSE GPC traded down $4.16 during mid-day trading on Tuesday, reaching $157.21. 1,558,772 shares of the company’s stock were exchanged, compared to its average volume of 1,074,668. The firm has a market capitalization of $21.90 billion, a price-to-earnings ratio of 17.53 and a beta of 0.94. 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 business has a fifty day simple moving average of $152.49 and a 200 day simple moving average of $143.02. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $174.91.

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

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors 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 yield of 2.54%. Genuine Parts’s dividend payout ratio is presently 44.59%.

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.