Royal London Asset Management Ltd. Purchases 1,354 Shares of Genuine Parts (NYSE:GPC)

Royal London Asset Management Ltd. grew its position in Genuine Parts (NYSE:GPC) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,596 shares of the specialty retailer’s stock after purchasing an additional 1,354 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Genuine Parts were worth $6,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Genuine Parts Stock Down 1.5 %

Shares of NYSE:GPC opened at $118.93 on Monday. The company has a market cap of $16.50 billion, a price-to-earnings ratio of 18.38 and a beta of 0.93. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The company has a 50-day moving average price of $120.99 and a 200 day moving average price of $124.58.

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

Genuine Parts Increases Dividend

The company also recently disclosed 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 is a boost from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a yield of 3.46%. Genuine Parts’s payout ratio is 63.68%.

Wall Street Analysts Forecast Growth

GPC has been the topic of several research analyst reports. Truist Financial boosted 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. Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Loop Capital began coverage on Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. Finally, Evercore ISI decreased their target price on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $137.63.

About Genuine Parts

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.