2,272 Shares in Genuine Parts (NYSE:GPC) Purchased by Semanteon Capital Management LP

Semanteon Capital Management LP acquired a new position in shares of Genuine Parts (NYSE:GPC) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,272 shares of the specialty retailer’s stock, valued at approximately $315,000.

Other hedge funds have also recently bought and sold shares of the company. Invesco Ltd. boosted its position in shares of Genuine Parts by 71.1% during the 3rd quarter. Invesco Ltd. now owns 2,590,036 shares of the specialty retailer’s stock worth $373,949,000 after acquiring an additional 1,076,361 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Genuine Parts by 15,175.4% in the 4th quarter. International Assets Investment Management LLC now owns 713,056 shares of the specialty retailer’s stock valued at $98,758,000 after purchasing an additional 708,388 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Genuine Parts by 17.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,521,786 shares of the specialty retailer’s stock valued at $345,130,000 after purchasing an additional 367,665 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Genuine Parts by 23.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,633,941 shares of the specialty retailer’s stock worth $235,916,000 after buying an additional 313,438 shares in the last quarter. Finally, Ceredex Value Advisors LLC bought a new stake in shares of Genuine Parts during the 3rd quarter worth $41,647,000. 78.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GPC shares. Truist Financial increased their price target on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Jefferies Financial Group boosted their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research report on Friday, April 19th. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Evercore ISI dropped 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, April 16th. Finally, Wedbush restated a “neutral” rating and issued a $170.00 target price (up from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $173.10.

Genuine Parts Stock Performance

NYSE:GPC opened at $159.93 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. The company has a market capitalization of $22.28 billion, a P/E ratio of 17.83 and a beta of 0.94. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $174.91. The business has a fifty day simple moving average of $152.13 and a two-hundred day simple moving average of $142.98.

Genuine Parts (NYSE:GPC) last announced its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.07. The company had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.14 earnings per share. On average, analysts expect that Genuine Parts will post 9.89 earnings per share for the current year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date was Thursday, February 29th. This is an increase from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s dividend payout ratio is currently 44.59%.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 3,250 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the transaction, 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 can be accessed through the SEC website. 0.37% of the stock is currently owned by insiders.

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.