Genuine Parts (NYSE:GPC) Shares Purchased by Oakworth Capital Inc.

Oakworth Capital Inc. raised its position in Genuine Parts (NYSE:GPC) by 250.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,834 shares of the specialty retailer’s stock after buying an additional 2,741 shares during the period. Oakworth Capital Inc.’s holdings in Genuine Parts were worth $531,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GPC. Salem Investment Counselors Inc. raised its position in shares of Genuine Parts by 42.9% during the 4th quarter. Salem Investment Counselors Inc. now owns 200 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 60 shares during the period. Wetherby Asset Management Inc. grew its holdings in shares of Genuine Parts by 3.0% during the 1st quarter. Wetherby Asset Management Inc. now owns 2,101 shares of the specialty retailer’s stock worth $352,000 after purchasing an additional 61 shares during the period. Federated Hermes Inc. increased its position in shares of Genuine Parts by 2.9% during the 3rd quarter. Federated Hermes Inc. now owns 2,402 shares of the specialty retailer’s stock worth $359,000 after purchasing an additional 68 shares during the last quarter. Axxcess Wealth Management LLC increased its position in shares of Genuine Parts by 5.0% during the 3rd quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock worth $223,000 after purchasing an additional 74 shares during the last quarter. Finally, Financial Counselors Inc. raised its holdings in Genuine Parts by 0.3% in the 3rd quarter. Financial Counselors Inc. now owns 22,476 shares of the specialty retailer’s stock valued at $3,245,000 after buying an additional 76 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Genuine Parts Stock Down 0.1 %

NYSE GPC traded down $0.09 during trading on Wednesday, reaching $144.46. 1,261,537 shares of the company’s stock were exchanged, compared to its average volume of 979,940. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $174.91. The stock has a market cap of $20.14 billion, a P/E ratio of 15.49 and a beta of 0.94. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.63 and a current ratio of 1.23. The company has a 50 day moving average price of $149.54 and a two-hundred day moving average price of $142.08.

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

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend 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 42.87%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Truist Financial reiterated a “buy” rating and set a $167.00 price target on shares of Genuine Parts in a research report on Friday, April 12th. Wedbush reiterated a “neutral” rating and issued a $140.00 target price on shares of Genuine Parts in a report on Friday, February 16th. Evercore ISI decreased their price target on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research note on Tuesday. Finally, StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Genuine Parts has an average rating of “Moderate Buy” and an average target price of $168.33.

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.