Genuine Parts (NYSE:GPC) Shares Bought by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC boosted its position in shares of Genuine Parts (NYSE:GPC) by 1.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 114,539 shares of the specialty retailer’s stock after acquiring an additional 1,789 shares during the period. Gateway Investment Advisers LLC owned about 0.08% of Genuine Parts worth $17,746,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Genuine Parts in the 4th quarter valued at $215,643,000. International Assets Investment Management LLC increased its stake in Genuine Parts by 15,175.4% in the 4th quarter. International Assets Investment Management LLC now owns 713,056 shares of the specialty retailer’s stock valued at $98,758,000 after buying an additional 708,388 shares during the period. Stifel Financial Corp increased its stake in Genuine Parts by 27.0% in the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after buying an additional 431,623 shares during the period. Morningstar Investment Services LLC grew its stake in shares of Genuine Parts by 161.2% during the 4th quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock worth $80,066,000 after purchasing an additional 357,091 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of Genuine Parts by 23.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,633,941 shares of the specialty retailer’s stock worth $235,916,000 after purchasing an additional 313,438 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

GPC has been the topic of a number of recent analyst reports. Jefferies Financial Group upped their price target on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. Truist Financial upped their price target on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Evercore ISI upped their price target on shares of Genuine Parts from $160.00 to $165.00 and gave the stock an “in-line” rating in a research note on Thursday, June 20th. Wedbush reaffirmed a “neutral” rating and set a $170.00 price target (up from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Finally, StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, May 24th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $172.44.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 3,000 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the transaction, the director now directly owns 13,006 shares in the company, valued at approximately $1,967,677.74. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.37% of the stock is owned by insiders.

Genuine Parts Price Performance

NYSE:GPC opened at $139.10 on Wednesday. The firm has a market cap of $19.38 billion, a price-to-earnings ratio of 15.51 and a beta of 0.92. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. The company’s 50-day moving average is $149.61 and its two-hundred day moving average is $146.55. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $170.57.

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

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.