Tyche Wealth Partners LLC Invests $368,000 in Genuine Parts (NYSE:GPC)

Tyche Wealth Partners LLC bought a new stake in shares of Genuine Parts (NYSE:GPC) during the fourth quarter, Holdings Channel reports. The institutional investor bought 2,655 shares of the specialty retailer’s stock, valued at approximately $368,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Amalgamated Bank boosted its position in shares of Genuine Parts by 10.7% during the 3rd quarter. Amalgamated Bank now owns 41,734 shares of the specialty retailer’s stock worth $6,026,000 after purchasing an additional 4,047 shares in the last quarter. Conning Inc. grew its stake in Genuine Parts by 5.9% in the fourth quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock valued at $31,501,000 after acquiring an additional 12,634 shares during the period. Teza Capital Management LLC bought a new stake in shares of Genuine Parts during the third quarter valued at approximately $1,593,000. LPL Financial LLC raised its position in shares of Genuine Parts by 15.1% during the third quarter. LPL Financial LLC now owns 141,483 shares of the specialty retailer’s stock worth $20,427,000 after purchasing an additional 18,522 shares during the period. Finally, Schwartz Investment Counsel Inc. lifted its holdings in shares of Genuine Parts by 26.2% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 240,500 shares of the specialty retailer’s stock worth $33,309,000 after purchasing an additional 50,000 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $144.07 on Thursday. The company has a market capitalization of $20.09 billion, a P/E ratio of 15.44 and a beta of 0.94. The company’s 50-day moving average is $149.56 and its 200 day moving average is $142.09. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.63 and a current ratio of 1.23. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $174.91.

Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, February 15th. The specialty retailer reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.06. Genuine Parts had a net margin of 5.70% and a return on equity of 31.64%. The firm had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.64 billion. During the same period in the prior year, the firm earned $2.05 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts forecast that Genuine Parts will post 9.76 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a $1.00 dividend. This is an increase from Genuine Parts’s previous quarterly dividend of $0.95. This represents a $4.00 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date was Thursday, February 29th. Genuine Parts’s dividend payout ratio (DPR) is currently 42.87%.

Insider Buying and Selling at Genuine Parts

In related news, Director Wendy B. Needham sold 3,250 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the sale, the director now directly owns 14,397 shares in the company, valued at approximately $2,230,383.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on GPC. Evercore ISI lowered their price objective on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Wedbush reaffirmed a “neutral” rating and issued a $140.00 price target on shares of Genuine Parts in a research report on Friday, February 16th. Finally, Truist Financial reissued a “buy” rating and set a $167.00 price objective on shares of Genuine Parts in a report on Friday, April 12th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $168.33.

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.