Lifeworks Advisors LLC Grows Holdings in Genuine Parts (NYSE:GPC)

Lifeworks Advisors LLC lifted its position in shares of Genuine Parts (NYSE:GPC) by 48.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,141 shares of the specialty retailer’s stock after buying an additional 1,024 shares during the quarter. Lifeworks Advisors LLC’s holdings in Genuine Parts were worth $367,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Genuine Parts during the third quarter worth $26,000. Capital Performance Advisors LLP purchased a new stake in Genuine Parts during the 3rd quarter worth $31,000. Kestra Investment Management LLC purchased a new stake in shares of Genuine Parts in the fourth quarter worth about $28,000. First Command Advisory Services Inc. acquired a new stake in Genuine Parts in the fourth quarter valued at approximately $28,000. Finally, Compass Planning Associates Inc acquired a new stake in Genuine Parts during the 4th quarter valued at $29,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction dated 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 owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GPC shares. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Evercore ISI reduced their target price on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Truist Financial boosted their price target on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Finally, Loop Capital started coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 target price for the company. Eight 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. Based on data from MarketBeat, Genuine Parts has an average rating of “Hold” and an average price target of $137.63.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $127.41 on Friday. The firm has a market capitalization of $17.68 billion, a PE ratio of 19.69 and a beta of 0.93. The business’s fifty day moving average price is $119.74 and its two-hundred day moving average price is $126.10. 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 current ratio of 1.16 and a quick ratio of 0.57.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating the consensus estimate of $1.54 by $0.07. The company had revenue of $5.77 billion for 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 quarter last year, the business earned $2.26 earnings per share. On average, research analysts expect that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

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

Genuine Parts 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.