Genuine Parts (NYSE:GPC) Shares Acquired by Morton Community Bank

Morton Community Bank lifted its holdings in shares of Genuine Parts (NYSE:GPC) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,366 shares of the specialty retailer’s stock after buying an additional 650 shares during the period. Morton Community Bank’s holdings in Genuine Parts were worth $2,728,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Metis Global Partners LLC boosted its holdings in shares of Genuine Parts by 1.9% in the 3rd quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock valued at $625,000 after purchasing an additional 85 shares during the last quarter. Guardian Wealth Advisors LLC boosted its holdings in shares of Genuine Parts by 2.7% in the 3rd quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock valued at $484,000 after purchasing an additional 91 shares during the last quarter. Marco Investment Management LLC boosted its holdings in shares of Genuine Parts by 1.2% in the 3rd quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock valued at $1,104,000 after purchasing an additional 91 shares during the last quarter. Hartford Financial Management Inc. boosted its holdings in shares of Genuine Parts by 0.5% in the 4th quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer’s stock valued at $2,185,000 after purchasing an additional 99 shares during the last quarter. Finally, Citizens Financial Group Inc. RI boosted its holdings in shares of Genuine Parts by 2.8% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer’s stock valued at $533,000 after purchasing an additional 103 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on GPC. Evercore ISI cut their target price on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Truist Financial lifted their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Loop Capital began coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price target on the stock. Finally, Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Genuine Parts presently has a consensus rating of “Hold” and an average price target of $137.63.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value 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 represents a 12.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.37% of the stock is currently owned by company insiders.

Genuine Parts Trading Up 1.2 %

NYSE GPC opened at $127.41 on Monday. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company has a 50-day simple moving average of $119.74 and a 200-day simple moving average of $125.97. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The firm has a market capitalization of $17.68 billion, a PE ratio of 19.69 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. The firm had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same period in the previous year, the business posted $2.26 EPS. On average, equities analysts forecast that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.23%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. Genuine Parts’s payout ratio is presently 63.68%.

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.