Blueshift Asset Management LLC Has $1.96 Million Position in Genuine Parts (NYSE:GPC)

Blueshift Asset Management LLC lifted its holdings in shares of Genuine Parts (NYSE:GPC) by 25.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 16,818 shares of the specialty retailer’s stock after purchasing an additional 3,444 shares during the period. Genuine Parts comprises 0.7% of Blueshift Asset Management LLC’s portfolio, making the stock its 20th largest holding. Blueshift Asset Management LLC’s holdings in Genuine Parts were worth $1,964,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Marco Investment Management LLC lifted 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 worth $1,104,000 after buying an additional 91 shares in the last quarter. Hartford Financial Management Inc. raised its position in shares of Genuine Parts by 0.5% during the fourth quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer’s stock worth $2,185,000 after acquiring an additional 99 shares during the last quarter. Citizens Financial Group Inc. RI lifted its stake in shares of Genuine Parts by 2.8% during the third 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. New York Life Investment Management LLC boosted its holdings in Genuine Parts by 0.6% in the fourth quarter. New York Life Investment Management LLC now owns 18,743 shares of the specialty retailer’s stock valued at $2,188,000 after acquiring an additional 108 shares during the last quarter. Finally, Grimes & Company Inc. increased its position in Genuine Parts by 3.3% in the fourth quarter. Grimes & Company Inc. now owns 3,494 shares of the specialty retailer’s stock worth $408,000 after purchasing an additional 111 shares during the period. 78.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GPC shares. Truist Financial upped their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Loop Capital initiated coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective on the stock. Evercore ISI dropped their target price on shares of 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, Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Eight investment 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. Based on data from MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and a consensus price target of $137.63.

Genuine Parts Stock Performance

GPC stock opened at $124.72 on Thursday. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The business’s 50-day moving average price is $120.84 and its two-hundred day moving average price is $125.03. The firm has a market cap of $17.31 billion, a PE ratio of 19.28 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.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.07. The business 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 25.28% and a net margin of 3.85%. During the same period in the previous year, the firm earned $2.26 EPS. As a group, research analysts forecast that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors 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 3.30%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 63.68%.

About Genuine Parts

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.