Van ECK Associates Corp Boosts Position in Genuine Parts (NYSE:GPC)

Van ECK Associates Corp boosted its position in shares of Genuine Parts (NYSE:GPC) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,866 shares of the specialty retailer’s stock after purchasing an additional 809 shares during the quarter. Van ECK Associates Corp’s holdings in Genuine Parts were worth $2,787,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in Genuine Parts during the third quarter worth $26,000. Capital Performance Advisors LLP purchased a new stake in Genuine Parts during the third quarter worth $31,000. Synergy Asset Management LLC purchased a new stake in Genuine Parts during the fourth quarter worth $32,000. Concord Wealth Partners boosted its position in Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 119 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in Genuine Parts during the third quarter worth $44,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Stock Performance

Shares of NYSE:GPC opened at $123.40 on Friday. The firm has a market capitalization of $17.16 billion, a PE ratio of 19.07 and a beta of 0.94. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The business has a 50-day moving average of $118.28 and a two-hundred day moving average of $127.27. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping the consensus estimate of $1.54 by $0.07. The company had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a return on equity of 24.99% and a net margin of 3.85%. During the same period in the prior year, the firm posted $2.26 earnings per share. As a group, research analysts forecast that Genuine Parts will post 7.98 earnings per share for the current year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.34%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio (DPR) is 61.82%.

Insider Activity

In other news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the sale, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on GPC shares. Evercore ISI reduced their price objective on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a research report on Wednesday. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Loop Capital started coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price for the company. Finally, Truist Financial upped their target price on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $137.63.

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.