Holderness Investments Co. Has $708,000 Holdings in Genuine Parts (NYSE:GPC)

Holderness Investments Co. lessened its position in shares of Genuine Parts (NYSE:GPC) by 5.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,061 shares of the specialty retailer’s stock after selling 370 shares during the period. Holderness Investments Co.’s holdings in Genuine Parts were worth $708,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. OLD Point Trust & Financial Services N A lifted its holdings in shares of Genuine Parts by 11.6% during the 4th quarter. OLD Point Trust & Financial Services N A now owns 3,860 shares of the specialty retailer’s stock worth $451,000 after acquiring an additional 400 shares during the period. Blueshift Asset Management LLC lifted its holdings in shares of Genuine Parts by 25.8% during the 4th quarter. Blueshift Asset Management LLC now owns 16,818 shares of the specialty retailer’s stock worth $1,964,000 after acquiring an additional 3,444 shares during the period. Royal London Asset Management Ltd. lifted its holdings in shares of Genuine Parts by 2.4% during the 4th quarter. Royal London Asset Management Ltd. now owns 58,596 shares of the specialty retailer’s stock worth $6,842,000 after acquiring an additional 1,354 shares during the period. West Tower Group LLC lifted its holdings in shares of Genuine Parts by 80.0% during the 4th quarter. West Tower Group LLC now owns 3,600 shares of the specialty retailer’s stock worth $420,000 after acquiring an additional 1,600 shares during the period. Finally, Enhancing Capital LLC bought a new stake in shares of Genuine Parts during the 4th quarter worth approximately $305,000. Institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GPC. Truist Financial upped their price target 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. Evercore ISI cut their price target on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a 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 for the company. Finally, Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $137.63.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $120.60 on Friday. The company has a market cap of $16.74 billion, a price-to-earnings ratio of 18.64 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The firm has a 50 day simple moving average of $120.93 and a 200 day simple moving average of $125.00. Genuine Parts has a one year low of $112.74 and a one year high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results 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 firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same quarter last year, the firm earned $2.26 earnings per share. Research analysts predict that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $4.12 annualized dividend and a dividend yield of 3.42%. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio (DPR) is presently 63.68%.

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.