442 Shares in Genuine Parts (NYSE:GPC) Purchased by Lee Danner & Bass Inc.

Lee Danner & Bass Inc. bought a new position in shares of Genuine Parts (NYSE:GPC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 442 shares of the specialty retailer’s stock, valued at approximately $52,000.

Several other large investors have also recently added to or reduced their stakes in GPC. Prospera Financial Services Inc lifted its position in Genuine Parts by 36.3% during the third quarter. Prospera Financial Services Inc now owns 3,732 shares of the specialty retailer’s stock worth $522,000 after buying an additional 993 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Genuine Parts during the third quarter worth about $1,407,000. Citizens Financial Group Inc. RI lifted its position in 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 worth $533,000 after buying an additional 103 shares during the period. King Luther Capital Management Corp lifted its position in Genuine Parts by 1.3% during the third quarter. King Luther Capital Management Corp now owns 9,808 shares of the specialty retailer’s stock worth $1,370,000 after buying an additional 122 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Genuine Parts by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,743,970 shares of the specialty retailer’s stock worth $383,511,000 after buying an additional 30,354 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Stock Performance

Shares of NYSE:GPC opened at $118.93 on Friday. The company has a market cap of $16.50 billion, a P/E ratio of 18.38 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The business’s 50-day simple moving average is $120.99 and its 200 day simple moving average is $124.70.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.71 billion. During the same period last year, the business posted $2.26 EPS. On average, sell-side analysts forecast that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio (DPR) is 63.68%.

Analysts Set New Price Targets

GPC has been the topic of a number of research reports. Truist Financial raised their price objective on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Evercore ISI cut their price objective on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Finally, Loop Capital initiated coverage on Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $137.63.

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.