Geneos Wealth Management Inc. Raises Stake in Genuine Parts (NYSE:GPC)

Geneos Wealth Management Inc. raised its position in Genuine Parts (NYSE:GPC) by 195.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,981 shares of the specialty retailer’s stock after acquiring an additional 1,311 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Genuine Parts were worth $307,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Genuine Parts by 7.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,707,699 shares of the specialty retailer’s stock valued at $353,436,000 after buying an additional 185,913 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Genuine Parts by 27.0% during the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock worth $281,078,000 after purchasing an additional 431,623 shares during the last quarter. Norges Bank acquired a new stake in shares of Genuine Parts during the fourth quarter worth about $215,643,000. Dimensional Fund Advisors LP boosted its position in shares of Genuine Parts by 13.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,081,344 shares of the specialty retailer’s stock valued at $149,766,000 after purchasing an additional 129,472 shares during the period. Finally, International Assets Investment Management LLC grew its stake in Genuine Parts by 15,175.4% during the 4th quarter. International Assets Investment Management LLC now owns 713,056 shares of the specialty retailer’s stock worth $98,758,000 after buying an additional 708,388 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Up 3.0 %

Shares of GPC stock opened at $136.51 on Friday. The company has a market capitalization of $19.02 billion, a price-to-earnings ratio of 15.22 and a beta of 0.92. 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 firm has a 50-day moving average price of $143.77 and a 200 day moving average price of $146.16. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $170.57.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same quarter in the previous year, the business posted $2.14 earnings per share. The company’s revenue was up .3% on a year-over-year basis. Research analysts forecast that Genuine Parts will post 9.92 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date was Friday, June 7th. Genuine Parts’s payout ratio is 44.59%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on GPC shares. UBS Group reduced their price objective on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Evercore ISI lowered their price objective on shares of Genuine Parts from $165.00 to $160.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 2nd. Truist Financial lifted their price objective on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Jefferies Financial Group raised their price target on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Finally, StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, May 24th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $167.75.

Insider Buying and Selling at Genuine Parts

In related news, Director Wendy B. Needham sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total value of $453,870.00. Following the sale, the director now directly owns 13,006 shares of the company’s stock, valued at $1,967,677.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.37% of the stock is owned by company insiders.

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.