Sunbelt Securities Inc. Acquires 465 Shares of Genuine Parts (NYSE:GPC)

Sunbelt Securities Inc. boosted its holdings in Genuine Parts (NYSE:GPC) by 255.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 647 shares of the specialty retailer’s stock after acquiring an additional 465 shares during the quarter. Sunbelt Securities Inc.’s holdings in Genuine Parts were worth $100,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GPC. Connor Clark & Lunn Investment Management Ltd. bought a new position in Genuine Parts in the 3rd quarter worth about $662,000. Tower Research Capital LLC TRC boosted its holdings in shares of Genuine Parts by 340.1% in 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 in the last quarter. Bank of Nova Scotia boosted its holdings in shares of Genuine Parts by 87.9% in the 3rd quarter. Bank of Nova Scotia now owns 27,732 shares of the specialty retailer’s stock worth $4,004,000 after purchasing an additional 12,970 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in shares of Genuine Parts by 422.8% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 67,772 shares of the specialty retailer’s stock worth $9,785,000 after purchasing an additional 54,808 shares in the last quarter. Finally, Quadrature Capital Ltd boosted its holdings in shares of Genuine Parts by 507.8% in the 3rd quarter. Quadrature Capital Ltd now owns 10,807 shares of the specialty retailer’s stock worth $1,560,000 after purchasing an additional 9,029 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 3,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was 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 of the company’s stock, valued at approximately $1,967,677.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Genuine Parts Trading Up 0.7 %

GPC opened at $138.32 on Friday. The business has a 50 day simple moving average of $148.55 and a two-hundred day simple moving average of $146.53. The firm has a market capitalization 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 has a one year low of $126.35 and a one year high of $170.57.

Genuine Parts (NYSE:GPC) last announced its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) 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 analyst estimates of $5.84 billion. During the same quarter in the prior year, the company earned $2.14 EPS. The business’s revenue was up .3% compared to the same quarter last year. Analysts predict that Genuine Parts will post 9.92 EPS for the current year.

Genuine Parts Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GPC shares. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Evercore ISI upped their price objective on Genuine Parts from $160.00 to $165.00 and gave the stock an “in-line” rating in a report on Thursday, June 20th. Wedbush reiterated a “neutral” rating and issued a $170.00 price objective (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Truist Financial upped their price objective on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Finally, Jefferies Financial Group increased 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. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and an average price target of $169.63.

Genuine Parts Company 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.