Fisher Asset Management LLC Boosts Stock Position in Genuine Parts (NYSE:GPC)

Fisher Asset Management LLC boosted its holdings in shares of Genuine Parts (NYSE:GPC) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,915 shares of the specialty retailer’s stock after acquiring an additional 153 shares during the quarter. Fisher Asset Management LLC’s holdings in Genuine Parts were worth $224,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Metis Global Partners LLC boosted its holdings in Genuine Parts by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock valued at $625,000 after acquiring an additional 85 shares during the period. Guardian Wealth Advisors LLC boosted its holdings in Genuine Parts by 2.7% during the 3rd quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock valued at $484,000 after acquiring an additional 91 shares during the period. Marco Investment Management LLC boosted its holdings in Genuine Parts by 1.2% during the 3rd quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock valued at $1,104,000 after acquiring an additional 91 shares during the period. Hartford Financial Management Inc. boosted its holdings in Genuine Parts by 0.5% during the 4th quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer’s stock valued at $2,185,000 after acquiring an additional 99 shares during the period. Finally, Citizens Financial Group Inc. RI boosted its holdings in Genuine Parts by 2.8% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer’s stock valued at $533,000 after acquiring an additional 103 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on GPC shares. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Loop Capital began coverage on Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 target price for the company. Truist Financial lifted their target price on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Evercore ISI decreased their target price on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Finally, Redburn Atlantic raised Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Eight equities 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 stock. According to MarketBeat.com, Genuine Parts has a consensus rating of “Hold” and an average target price of $137.63.

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $127.41 on Friday. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company has a market cap of $17.68 billion, a price-to-earnings ratio of 19.69 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The business’s 50 day moving average price is $119.74 and its 200 day moving average price is $126.10.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The company had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the previous year, the business earned $2.26 earnings per share. On average, research analysts predict that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.23%. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts’s payout ratio is presently 63.68%.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the transaction, the director now directly owns 11,357 shares of the company’s stock, valued at $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.37% of the stock is currently owned by insiders.

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.