OLD Republic International Corp Has $39.54 Million Position in Genuine Parts (NYSE:GPC)

OLD Republic International Corp lessened its position in Genuine Parts (NYSE:GPC) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 285,500 shares of the specialty retailer’s stock after selling 2,400 shares during the quarter. OLD Republic International Corp owned approximately 0.20% of Genuine Parts worth $39,542,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of GPC. OFI Invest Asset Management bought a new position in shares of Genuine Parts in the third quarter valued at $25,000. Briaud Financial Planning Inc bought a new position in Genuine Parts during the third quarter worth about $28,000. Milestone Investment Advisors LLC acquired a new position in Genuine Parts during the third quarter worth approximately $28,000. Authentikos Wealth Advisory LLC bought a new stake in Genuine Parts in the third quarter valued at approximately $40,000. Finally, Orion Capital Management LLC bought a new position in shares of Genuine Parts during the 3rd quarter worth approximately $42,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 0.1 %

GPC stock traded down $0.16 during trading on Friday, reaching $155.18. The stock had a trading volume of 187,210 shares, compared to its average volume of 1,048,021. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $21.62 billion, a price-to-earnings ratio of 17.32 and a beta of 0.94. Genuine Parts has a one year low of $126.35 and a one year high of $173.78. The company’s 50 day moving average is $153.82 and its two-hundred day moving average is $143.77.

Genuine Parts (NYSE:GPC) last released its earnings results 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 firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the prior year, the firm earned $2.14 EPS. The company’s revenue was up .3% compared to the same quarter last year. Equities research analysts forecast that Genuine Parts will post 9.94 EPS for the current year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a yield of 2.58%. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 3,250 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the completion of the transaction, the director now directly owns 14,397 shares in the company, valued at $2,230,383.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.37% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on GPC. Truist Financial upped their price target 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. Wedbush reaffirmed a “neutral” rating and set a $170.00 target price (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Evercore ISI cut their price target on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Finally, Jefferies Financial Group increased their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $173.10.

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.