Enhancing Capital LLC Makes New $305,000 Investment in Genuine Parts (NYSE:GPC)

Enhancing Capital LLC purchased a new position in shares of Genuine Parts (NYSE:GPC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,610 shares of the specialty retailer’s stock, valued at approximately $305,000.

A number of other institutional investors also recently bought and sold shares of GPC. Generali Asset Management SPA SGR purchased a new position in shares of Genuine Parts during the 4th quarter valued at approximately $1,911,000. Advisors Asset Management Inc. increased its holdings in shares of Genuine Parts by 17.5% during the 4th quarter. Advisors Asset Management Inc. now owns 62,881 shares of the specialty retailer’s stock valued at $7,342,000 after purchasing an additional 9,355 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Genuine Parts by 7.2% during the 4th quarter. Signaturefd LLC now owns 47,906 shares of the specialty retailer’s stock valued at $5,593,000 after purchasing an additional 3,221 shares in the last quarter. Cibc World Markets Corp increased its holdings in shares of Genuine Parts by 16.2% during the 4th quarter. Cibc World Markets Corp now owns 21,967 shares of the specialty retailer’s stock valued at $2,565,000 after purchasing an additional 3,069 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV increased its holdings in shares of Genuine Parts by 6.2% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 6,101 shares of the specialty retailer’s stock valued at $712,000 after purchasing an additional 357 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Price Performance

Genuine Parts stock opened at $123.98 on Wednesday. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. 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 company’s fifty day moving average price is $120.68 and its 200 day moving average price is $125.03. The stock has a market capitalization of $17.21 billion, a P/E ratio of 19.16 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The company had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the previous year, the company posted $2.26 EPS. As a group, equities research analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The firm 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 annualized dividend and a yield of 3.32%. The ex-dividend date is Friday, March 7th. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s payout ratio is 63.68%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GPC shares. Evercore ISI cut their target price on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Truist Financial lifted their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Finally, Loop Capital assumed coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $137.63.

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.