Vaughan David Investments LLC IL Purchases 4,735 Shares of Genuine Parts (NYSE:GPC)

Vaughan David Investments LLC IL grew its position in shares of Genuine Parts (NYSE:GPCFree Report) by 1.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 270,135 shares of the specialty retailer’s stock after buying an additional 4,735 shares during the quarter. Vaughan David Investments LLC IL’s holdings in Genuine Parts were worth $37,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Comerica Bank purchased a new stake in Genuine Parts in the 2nd quarter worth $190,000. Sunbelt Securities Inc. increased its stake in Genuine Parts by 122.2% in the 2nd quarter. Sunbelt Securities Inc. now owns 160 shares of the specialty retailer’s stock worth $27,000 after buying an additional 88 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Genuine Parts during the third quarter valued at about $25,000. OFI Invest Asset Management purchased a new position in shares of Genuine Parts during the third quarter valued at about $25,000. Finally, First Capital Advisors Group LLC. purchased a new position in shares of Genuine Parts during the second quarter valued at about $31,000. 78.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on GPC shares. Wedbush restated a “neutral” rating and set a $140.00 price objective on shares of Genuine Parts in a research report on Friday, February 16th. Evercore ISI increased their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, March 26th. Truist Financial reaffirmed a “buy” rating and issued a $167.00 price target on shares of Genuine Parts in a report on Friday. Finally, raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $168.89.

Check Out Our Latest Stock Report on Genuine Parts

Insider Transactions 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 shares were sold at an average price of $154.92, for a total transaction of $503,490.00. Following the completion of the sale, the director now directly owns 14,397 shares in the company, valued at $2,230,383.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.37% of the company’s stock.

Genuine Parts Stock Down 0.5 %

GPC stock traded down $0.69 during trading on Friday, hitting $145.42. 924,762 shares of the company’s stock traded hands, compared to its average volume of 972,583. The firm has a market capitalization of $20.27 billion, a P/E ratio of 15.59 and a beta of 0.94. The business has a fifty day simple moving average of $149.38 and a two-hundred day simple moving average of $142.08. 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 has a 1 year low of $126.35 and a 1 year high of $174.91.

Genuine Parts (NYSE:GPCGet Free Report) last released its quarterly earnings results on Thursday, February 15th. The specialty retailer reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $0.06. Genuine Parts had a net margin of 5.70% and a return on equity of 31.64%. The business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same period in the previous year, the company earned $2.05 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. Sell-side analysts anticipate that Genuine Parts will post 9.76 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a dividend of $1.00 per share. This is an increase from Genuine Parts’s previous quarterly dividend of $0.95. This represents a $4.00 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend was Thursday, February 29th. Genuine Parts’s payout ratio is presently 42.87%.

About Genuine Parts

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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