Weaver C. Barksdale & Associates Inc. Has $1.22 Million Holdings in Genuine Parts (NYSE:GPC)

Weaver C. Barksdale & Associates Inc. cut its position in shares of Genuine Parts (NYSE:GPC) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,437 shares of the specialty retailer’s stock after selling 261 shares during the period. Weaver C. Barksdale & Associates Inc.’s holdings in Genuine Parts were worth $1,219,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Kingsview Wealth Management LLC raised its holdings in shares of Genuine Parts by 18.3% during the 3rd quarter. Kingsview Wealth Management LLC now owns 3,658 shares of the specialty retailer’s stock valued at $511,000 after purchasing an additional 565 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Genuine Parts by 66.8% in the third quarter. Larson Financial Group LLC now owns 2,812 shares of the specialty retailer’s stock worth $393,000 after buying an additional 1,126 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Genuine Parts by 12.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 20,238 shares of the specialty retailer’s stock worth $2,827,000 after acquiring an additional 2,312 shares in the last quarter. Independent Advisor Alliance raised its stake in shares of Genuine Parts by 2.5% in the 3rd quarter. Independent Advisor Alliance now owns 19,994 shares of the specialty retailer’s stock valued at $2,793,000 after acquiring an additional 492 shares in the last quarter. Finally, Qsemble Capital Management LP acquired a new stake in Genuine Parts in the 3rd quarter worth approximately $354,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GPC shares. Evercore ISI lowered their target price on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 19th. Loop Capital assumed coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price target on the stock. Truist Financial upped their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Finally, Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Eight 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 company. According to data from MarketBeat.com, Genuine Parts currently has a consensus rating of “Hold” and an average price target of $137.63.

Genuine Parts Stock Performance

NYSE GPC opened at $117.84 on Wednesday. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a 50 day moving average of $121.09 and a 200-day moving average of $124.35. 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 firm has a market cap of $16.35 billion, a price-to-earnings ratio of 18.21 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last issued 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 firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same quarter in the previous year, the company posted $2.26 EPS. On average, equities analysts forecast that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be issued a dividend of $1.03 per share. The ex-dividend date is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a yield of 3.50%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio is currently 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.