TrueMark Investments LLC Acquires 1,817 Shares of Genuine Parts (NYSE:GPC)

TrueMark Investments LLC boosted its holdings in Genuine Parts (NYSE:GPC) by 9.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,752 shares of the specialty retailer’s stock after acquiring an additional 1,817 shares during the period. TrueMark Investments LLC’s holdings in Genuine Parts were worth $2,540,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Genuine Parts by 20.9% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 64,215 shares of the specialty retailer’s stock worth $7,498,000 after buying an additional 11,100 shares during the last quarter. ICW Investment Advisors LLC raised its holdings in Genuine Parts by 1.7% in the 4th quarter. ICW Investment Advisors LLC now owns 8,839 shares of the specialty retailer’s stock valued at $1,032,000 after acquiring an additional 149 shares during the period. LPL Financial LLC boosted its holdings in shares of Genuine Parts by 17.3% during the fourth quarter. LPL Financial LLC now owns 196,887 shares of the specialty retailer’s stock worth $22,988,000 after acquiring an additional 29,042 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Genuine Parts in the fourth quarter valued at approximately $5,575,000. Finally, Mizuho Securities USA LLC increased its stake in shares of Genuine Parts by 45.9% during the fourth quarter. Mizuho Securities USA LLC now owns 13,177 shares of the specialty retailer’s stock worth $1,539,000 after purchasing an additional 4,143 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Loop Capital began coverage on Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective on the stock. Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Truist Financial increased their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Evercore ISI dropped 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 research report on Wednesday, February 19th. Eight 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $137.63.

Genuine Parts Stock Down 2.3 %

Shares of GPC opened at $117.84 on Wednesday. The firm has a 50 day simple moving average of $121.09 and a two-hundred day simple moving average of $124.35. 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 one year low of $112.74 and a one year high of $164.45. The company has a market cap of $16.35 billion, a P/E ratio of 18.21 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.07. The company had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same quarter in the previous year, the firm earned $2.26 EPS. Research analysts forecast that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be issued a dividend of $1.03 per share. 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. This represents a $4.12 annualized dividend and a dividend yield of 3.50%. Genuine Parts’s payout ratio is 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.