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

Dana Investment Advisors Inc. purchased a new stake in shares of Genuine Parts (NYSE:GPC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 22,424 shares of the specialty retailer’s stock, valued at approximately $2,618,000.

Other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in Genuine Parts during the third quarter valued at about $26,000. Capital Performance Advisors LLP bought a new position in Genuine Parts during the third quarter worth about $31,000. Kestra Investment Management LLC bought a new position in Genuine Parts during the fourth quarter worth about $28,000. First Command Advisory Services Inc. bought a new position in Genuine Parts during the fourth quarter worth about $28,000. Finally, Compass Planning Associates Inc bought a new position in Genuine Parts during the fourth quarter worth about $29,000. Institutional investors own 78.83% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on GPC. Loop Capital began coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 target price for the company. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Evercore ISI cut 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, Truist Financial raised their price objective 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. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and a consensus target price of $137.63.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the transaction, the director now directly owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by insiders.

Genuine Parts Trading Up 1.2 %

Shares of GPC opened at $127.41 on Friday. The firm’s 50 day simple moving average is $119.53 and its 200 day simple moving average is $126.27. The company has a market capitalization of $17.68 billion, a P/E ratio of 19.69 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. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. The business had revenue of $5.77 billion for 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 period last year, the firm posted $2.26 earnings per share. Sell-side analysts forecast that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be paid a $1.03 dividend. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Friday, March 7th. Genuine Parts’s dividend payout ratio (DPR) is currently 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.