Dana Investment Advisors Inc. Makes New Investment in Genuine Parts (NYSE:GPC)

Dana Investment Advisors Inc. purchased a new position in shares of Genuine Parts (NYSE:GPC) during the 4th quarter, Holdings Channel.com reports. The fund purchased 22,424 shares of the specialty retailer’s stock, valued at approximately $2,618,000.

Several other large investors have also recently made changes to their positions in GPC. Equity Investment Corp purchased a new position in shares of Genuine Parts during the fourth quarter worth approximately $84,128,000. State Street Corp grew its holdings in shares of Genuine Parts by 5.4% in the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock worth $1,103,300,000 after purchasing an additional 401,180 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Genuine Parts by 1,038.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer’s stock worth $38,803,000 after purchasing an additional 253,400 shares during the last quarter. Synovus Financial Corp grew its holdings in shares of Genuine Parts by 95.4% in the third quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer’s stock worth $54,708,000 after purchasing an additional 191,272 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Genuine Parts in the fourth quarter worth approximately $21,840,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Performance

Shares of GPC stock opened at $127.41 on Friday. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The stock has a market cap of $17.68 billion, a PE ratio of 19.69 and a beta of 0.93. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The company’s fifty day moving average price is $119.53 and its 200-day moving average price is $126.27.

Genuine Parts (NYSE:GPC) last announced 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 net margin of 3.85% and a return on equity of 25.28%. The firm had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the previous year, the business posted $2.26 EPS. On average, equities analysts expect that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Truist Financial raised their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Evercore ISI cut their price target on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Finally, Loop Capital started coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $137.63.

Insider Activity

In other news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts 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 transaction, the director now 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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.37% of the company’s stock.

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.