Genuine Parts (NYSE:GPC) Stock Position Boosted by Royce & Associates LP

Royce & Associates LP grew its stake in shares of Genuine Parts (NYSE:GPC) by 16.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,500 shares of the specialty retailer’s stock after buying an additional 2,000 shares during the quarter. Royce & Associates LP’s holdings in Genuine Parts were worth $1,693,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in GPC. Kestra Investment Management LLC bought a new stake in Genuine Parts during the fourth quarter worth approximately $28,000. First Command Advisory Services Inc. acquired a new position in shares of Genuine Parts during the 4th quarter valued at $28,000. Compass Planning Associates Inc bought a new stake in shares of Genuine Parts in the 4th quarter worth $29,000. Synergy Asset Management LLC acquired a new stake in shares of Genuine Parts in the fourth quarter valued at $32,000. Finally, OFI Invest Asset Management bought a new position in Genuine Parts during the fourth quarter valued at about $34,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Stock Down 3.2 %

Shares of Genuine Parts stock opened at $120.60 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The stock has a 50-day moving average price of $120.93 and a 200 day moving average price of $125.00. The company has a market cap of $16.74 billion, a P/E ratio of 18.64 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping the consensus estimate of $1.54 by $0.07. The business had revenue of $5.77 billion during the quarter, compared to analysts’ expectations 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 last year, the company posted $2.26 earnings per share. As a group, analysts expect that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.42%. 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 dividend payout ratio (DPR) is currently 63.68%.

Analyst Ratings Changes

A number of brokerages have weighed in on GPC. Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Truist Financial raised their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Loop Capital began coverage on Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target on the stock. Finally, Evercore ISI reduced their price objective on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Genuine Parts 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.