Geneos Wealth Management Inc. Buys 1,311 Shares of Genuine Parts (NYSE:GPC)

Geneos Wealth Management Inc. increased its stake in shares of Genuine Parts (NYSE:GPC) by 195.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,981 shares of the specialty retailer’s stock after acquiring an additional 1,311 shares during the period. Geneos Wealth Management Inc.’s holdings in Genuine Parts were worth $307,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GPC. North Star Investment Management Corp. grew its holdings in Genuine Parts by 8.5% during the first quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock worth $138,000 after purchasing an additional 70 shares during the period. CHICAGO TRUST Co NA increased its holdings in shares of Genuine Parts by 3.6% during the 1st quarter. CHICAGO TRUST Co NA now owns 2,042 shares of the specialty retailer’s stock worth $316,000 after acquiring an additional 71 shares during the last quarter. Checchi Capital Advisers LLC lifted its holdings in Genuine Parts by 2.2% during the 4th quarter. Checchi Capital Advisers LLC now owns 3,530 shares of the specialty retailer’s stock valued at $489,000 after purchasing an additional 76 shares during the last quarter. Grimes & Company Inc. increased its holdings in shares of Genuine Parts by 2.5% in the fourth quarter. Grimes & Company Inc. now owns 3,178 shares of the specialty retailer’s stock valued at $440,000 after purchasing an additional 79 shares during the last quarter. Finally, Brighton Jones LLC raised its position in shares of Genuine Parts by 3.9% in the fourth quarter. Brighton Jones LLC now owns 2,180 shares of the specialty retailer’s stock valued at $302,000 after purchasing an additional 81 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Evercore ISI reduced their target price on shares of Genuine Parts from $165.00 to $160.00 and set an “in-line” rating for the company in a report on Tuesday, July 2nd. Jefferies Financial Group upped their target price on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research report on Friday, April 19th. UBS Group dropped their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Finally, Truist Financial lifted their target price on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $167.75.

Genuine Parts Stock Up 3.0 %

Shares of NYSE GPC opened at $136.51 on Friday. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $170.57. The stock’s fifty day moving average is $143.77 and its 200 day moving average is $146.16. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. The stock has a market capitalization of $19.02 billion, a P/E ratio of 15.22 and a beta of 0.92.

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, topping the consensus estimate of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The firm had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same period in the prior year, the company earned $2.14 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. Sell-side analysts forecast that Genuine Parts will post 9.92 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.93%. Genuine Parts’s payout ratio is presently 44.59%.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the transaction, the director now owns 13,006 shares in the company, valued at approximately $1,967,677.74. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.37% of the company’s stock.

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.