Genuine Parts (NYSE:GPC) Stake Lifted by Trilogy Capital Inc.

Trilogy Capital Inc. raised its stake in Genuine Parts (NYSE:GPCFree Report) by 9.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 18,739 shares of the specialty retailer’s stock after buying an additional 1,642 shares during the quarter. Trilogy Capital Inc.’s holdings in Genuine Parts were worth $2,903,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GPC. Charles Schwab Investment Management Inc. boosted its stake in Genuine Parts by 7.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,707,699 shares of the specialty retailer’s stock valued at $353,436,000 after purchasing an additional 185,913 shares during the period. Stifel Financial Corp grew its holdings 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 worth $281,078,000 after buying an additional 431,623 shares in the last quarter. Ameriprise Financial Inc. increased its position in Genuine Parts by 23.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,633,941 shares of the specialty retailer’s stock valued at $235,916,000 after acquiring an additional 313,438 shares during the period. Norges Bank bought a new stake in Genuine Parts during the 4th quarter valued at $215,643,000. Finally, Royal Bank of Canada boosted its position in Genuine Parts by 1.4% during the 3rd quarter. Royal Bank of Canada now owns 1,261,041 shares of the specialty retailer’s stock worth $182,070,000 after acquiring an additional 17,422 shares during the period. Institutional investors 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 lifted their price objective on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Wedbush reaffirmed a “neutral” rating and issued a $170.00 price target (up from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Evercore ISI boosted their target price on Genuine Parts from $160.00 to $165.00 and gave the stock an “in-line” rating in a report on Thursday, June 20th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, May 24th. Finally, Truist Financial upped their price target on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a report on Friday, April 19th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and an average target price of $169.63.

Get Our Latest Research Report on GPC

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 3,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the sale, the director now directly owns 13,006 shares of the company’s stock, valued at $1,967,677.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.37% of the company’s stock.

Genuine Parts Stock Performance

Shares of GPC opened at $138.32 on Monday. The company has a 50-day moving average of $148.55 and a two-hundred day moving average of $146.59. The stock has a market cap of $19.27 billion, a price-to-earnings ratio of 15.42 and a beta of 0.92. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. Genuine Parts has a one year low of $126.35 and a one year high of $170.57.

Genuine Parts (NYSE:GPCGet Free Report) last posted its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The firm had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same quarter last year, the business posted $2.14 EPS. The company’s revenue was up .3% on a year-over-year basis. On average, equities research analysts expect that Genuine Parts will post 9.92 earnings per share for the current year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a yield of 2.89%. Genuine Parts’s payout ratio is presently 44.59%.

Genuine Parts Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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