170 Shares in Genuine Parts (NYSE:GPC) Purchased by WD Rutherford LLC

WD Rutherford LLC purchased a new position in shares of Genuine Parts (NYSE:GPC) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 170 shares of the specialty retailer’s stock, valued at approximately $26,000.

Several other hedge funds have also recently modified their holdings of the stock. LPL Financial LLC grew its stake in Genuine Parts by 15.1% during the 3rd quarter. LPL Financial LLC now owns 141,483 shares of the specialty retailer’s stock valued at $20,427,000 after acquiring an additional 18,522 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Genuine Parts during the 3rd quarter worth approximately $662,000. Natixis Advisors L.P. boosted its position in shares of Genuine Parts by 0.3% during the 3rd quarter. Natixis Advisors L.P. now owns 97,784 shares of the specialty retailer’s stock worth $14,118,000 after purchasing an additional 310 shares during the period. Qube Research & Technologies Ltd boosted its position in shares of Genuine Parts by 12.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 636,849 shares of the specialty retailer’s stock worth $91,948,000 after purchasing an additional 72,881 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in shares of Genuine Parts by 340.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 9,423 shares of the specialty retailer’s stock worth $1,360,000 after purchasing an additional 7,282 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Activity

In related news, Director Wendy B. Needham sold 3,000 shares of Genuine Parts stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the sale, the director now directly owns 13,006 shares in the company, valued at approximately $1,967,677.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.37% of the company’s stock.

Genuine Parts Stock Up 0.7 %

Shares of GPC traded up $0.92 during midday trading on Friday, reaching $138.32. The stock had a trading volume of 1,300,635 shares, compared to its average volume of 844,214. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $170.57. The company’s fifty day simple moving average is $148.55 and its two-hundred day simple moving average is $146.45. The company has a market cap of $19.27 billion, a price-to-earnings ratio of 15.42 and a beta of 0.92. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data 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 business had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same period last year, the business earned $2.14 EPS. The company’s revenue was up .3% on a year-over-year basis. Equities research analysts expect that Genuine Parts will post 9.92 earnings per share for the current year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.89%. Genuine Parts’s payout ratio is 44.59%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GPC shares. Evercore ISI increased their price objective on shares of Genuine Parts from $160.00 to $165.00 and gave the stock an “in-line” rating in a research report on Thursday, June 20th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, May 24th. Truist Financial increased their price objective on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Wedbush reiterated 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. Finally, Jefferies Financial Group increased their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Genuine Parts currently has a consensus rating of “Hold” and a consensus price target of $169.63.

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.