Linden Thomas Advisory Services LLC Acquires 809 Shares of Genuine Parts (NYSE:GPC)

Linden Thomas Advisory Services LLC lifted its holdings in shares of Genuine Parts (NYSE:GPC) by 6.7% during the 4th quarter, Holdings Channel reports. The firm owned 12,828 shares of the specialty retailer’s stock after purchasing an additional 809 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Genuine Parts were worth $1,777,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. OFI Invest Asset Management bought a new position in Genuine Parts during the 3rd quarter worth $25,000. Milestone Investment Advisors LLC acquired a new stake in shares of Genuine Parts during the 3rd quarter worth $28,000. Briaud Financial Planning Inc bought a new position in shares of Genuine Parts in the third quarter worth $28,000. Authentikos Wealth Advisory LLC acquired a new position in Genuine Parts in the third quarter valued at about $40,000. Finally, Orion Capital Management LLC bought a new stake in Genuine Parts during the third quarter worth about $42,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on GPC. Evercore ISI decreased their target price on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Jefferies Financial Group raised their target price on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. Wedbush restated a “neutral” rating and set a $170.00 price objective (up from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Finally, Truist Financial raised their price objective on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a report on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Genuine Parts presently has a consensus rating of “Hold” and an average target price of $173.10.

Genuine Parts Trading Down 1.0 %

GPC stock traded down $1.62 during trading on Wednesday, hitting $161.76. The company had a trading volume of 407,245 shares, compared to its average volume of 1,054,981. The stock has a market cap of $22.53 billion, a PE ratio of 18.21 and a beta of 0.94. The business has a 50-day moving average of $151.08 and a 200-day moving average of $142.62. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. Genuine Parts has a one year low of $126.35 and a one year high of $174.91.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 EPS 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 company had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.84 billion. During the same period in the prior year, the firm posted $2.14 EPS. The company’s quarterly revenue was up .3% on a year-over-year basis. Research analysts predict that Genuine Parts will post 9.89 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a dividend of $1.00 per share. This is an increase from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, February 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.47%. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Insider Activity

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the sale, the director now directly owns 14,397 shares in the company, valued at $2,230,383.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is currently owned by company insiders.

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.