1,796 Shares in Genuine Parts (NYSE:GPC) Purchased by Level Four Advisory Services LLC

Level Four Advisory Services LLC acquired a new position in Genuine Parts (NYSE:GPC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,796 shares of the specialty retailer’s stock, valued at approximately $210,000.

Several other large investors have also bought and sold shares of GPC. Hartford Financial Management Inc. boosted its stake in shares of Genuine Parts by 0.5% in 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 period. New York Life Investment Management LLC lifted its holdings in Genuine Parts by 0.6% in the 4th quarter. New York Life Investment Management LLC now owns 18,743 shares of the specialty retailer’s stock worth $2,188,000 after purchasing an additional 108 shares in the last quarter. Grimes & Company Inc. boosted its stake in Genuine Parts by 3.3% in the 4th 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. Pinnacle Financial Partners Inc grew its holdings in Genuine Parts by 2.5% during the 4th quarter. Pinnacle Financial Partners Inc now owns 4,630 shares of the specialty retailer’s stock valued at $541,000 after buying an additional 115 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of Genuine Parts by 1.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,512 shares of the specialty retailer’s stock valued at $877,000 after buying an additional 128 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Loop Capital assumed coverage on Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price on the stock. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Evercore ISI boosted their target price on Genuine Parts from $125.00 to $128.00 and gave the company an “in-line” rating in a research report on Tuesday. Truist Financial raised their price target on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $135.00.

Genuine Parts Stock Performance

Shares of NYSE:GPC opened at $118.59 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The firm has a market cap of $16.46 billion, a PE ratio of 18.33 and a beta of 0.93. The firm’s 50 day simple moving average is $121.11 and its 200-day simple moving average is $123.75. Genuine Parts has a one year low of $112.74 and a one year high of $164.45.

Genuine Parts (NYSE:GPC) last issued 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. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The business had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same period in the previous year, the company posted $2.26 EPS. As a group, equities analysts predict that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.47%. This is a boost 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 is presently 63.68%.

Genuine Parts 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.