Riverview Trust Co Takes $120,000 Position in Genuine Parts (NYSE:GPC)

Riverview Trust Co acquired a new stake in Genuine Parts (NYSE:GPC) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 772 shares of the specialty retailer’s stock, valued at approximately $120,000.

Other hedge funds also recently made changes to their positions in the company. NBC Securities Inc. raised its stake in shares of Genuine Parts by 27.1% in the 4th quarter. NBC Securities Inc. now owns 3,129 shares of the specialty retailer’s stock valued at $433,000 after buying an additional 668 shares in the last quarter. ICW Investment Advisors LLC grew its holdings in shares of Genuine Parts by 2.8% in the 4th quarter. ICW Investment Advisors LLC now owns 8,084 shares of the specialty retailer’s stock worth $1,120,000 after purchasing an additional 221 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Genuine Parts by 22.0% in the 4th quarter. BNP Paribas Financial Markets now owns 148,121 shares of the specialty retailer’s stock worth $20,515,000 after purchasing an additional 26,710 shares during the last quarter. Stifel Financial Corp grew its holdings in shares of Genuine Parts by 27.0% in the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock worth $281,078,000 after purchasing an additional 431,623 shares during the last quarter. Finally, Conning Inc. grew its holdings in shares of Genuine Parts by 5.9% in the 4th quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock worth $31,501,000 after purchasing an additional 12,634 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insiders Place Their Bets

In other Genuine Parts 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 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 filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.37% of the company’s stock.

Genuine Parts Stock Performance

Shares of GPC stock opened at $139.10 on Wednesday. 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 company has a market capitalization of $19.38 billion, a P/E ratio of 15.51 and a beta of 0.92. The company’s 50 day moving average price is $149.61 and its two-hundred day moving average price is $146.55. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $170.57.

Genuine Parts (NYSE:GPC) last announced its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping the consensus estimate of $2.15 by $0.07. The firm had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the company posted $2.14 EPS. On average, analysts expect 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 will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a dividend of $1.00 per share. The ex-dividend date is Friday, June 7th. This represents a $4.00 annualized dividend and a yield of 2.88%. Genuine Parts’s dividend payout ratio (DPR) is currently 44.59%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on GPC shares. Wedbush reaffirmed a “neutral” rating and issued a $170.00 target price (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. 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 report on Friday, April 19th. Jefferies Financial Group increased their price objective 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. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, May 24th. Finally, Evercore ISI increased their price target on shares of Genuine Parts from $160.00 to $165.00 and gave the company an “in-line” rating in a research report on Thursday, June 20th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $172.44.

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.