Headlands Technologies LLC Raises Stake in Genuine Parts (NYSE:GPC)

Headlands Technologies LLC boosted its position in Genuine Parts (NYSE:GPC) by 148.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,267 shares of the specialty retailer’s stock after buying an additional 4,342 shares during the period. Headlands Technologies LLC’s holdings in Genuine Parts were worth $1,006,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Axxcess Wealth Management LLC boosted its position in Genuine Parts by 5.0% in the third quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock valued at $223,000 after buying an additional 74 shares during the last quarter. Financial Counselors Inc. lifted its holdings in Genuine Parts by 0.3% in the third quarter. Financial Counselors Inc. now owns 22,476 shares of the specialty retailer’s stock valued at $3,245,000 after acquiring an additional 76 shares during the period. Balentine LLC lifted its holdings in Genuine Parts by 2.2% in the third quarter. Balentine LLC now owns 3,550 shares of the specialty retailer’s stock valued at $513,000 after acquiring an additional 76 shares during the period. Grimes & Company Inc. lifted its holdings in Genuine Parts by 2.5% in the fourth quarter. Grimes & Company Inc. now owns 3,178 shares of the specialty retailer’s stock valued at $440,000 after acquiring an additional 79 shares during the period. Finally, Fiera Capital Corp lifted its holdings in Genuine Parts by 2.7% in the third quarter. Fiera Capital Corp now owns 3,080 shares of the specialty retailer’s stock valued at $445,000 after acquiring an additional 80 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Down 0.7 %

Shares of GPC stock opened at $159.93 on Friday. The stock has a 50 day simple moving average of $152.13 and a 200-day simple moving average of $142.95. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $174.91. 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 cap of $22.28 billion, a price-to-earnings ratio of 17.83 and a beta of 0.94.

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

Genuine Parts Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wedbush reissued a “neutral” rating and issued a $170.00 price target (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Truist Financial boosted their price target on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a report on Friday, April 19th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Evercore ISI decreased their price target on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a report on Tuesday, April 16th. Finally, Jefferies Financial Group upped their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $173.10.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction on Wednesday, March 20th. The stock was 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 of the company’s stock, valued at approximately $2,230,383.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.37% of the stock is owned by corporate 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.