Bruce G. Allen Investments LLC Purchases 351 Shares of Genuine Parts (NYSE:GPC)

Bruce G. Allen Investments LLC lifted its position in shares of Genuine Parts (NYSE:GPC) by 131.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 618 shares of the specialty retailer’s stock after acquiring an additional 351 shares during the period. Bruce G. Allen Investments LLC’s holdings in Genuine Parts were worth $72,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Private Advisor Group LLC grew its position in Genuine Parts by 2.3% during the second quarter. Private Advisor Group LLC now owns 24,619 shares of the specialty retailer’s stock valued at $3,405,000 after buying an additional 555 shares during the period. Candriam S.C.A. grew its position in shares of Genuine Parts by 6.1% during the second quarter. Candriam S.C.A. now owns 2,023 shares of the specialty retailer’s stock valued at $280,000 after purchasing an additional 116 shares in the last quarter. Caprock Group LLC increased its stake in Genuine Parts by 55.7% in the 2nd quarter. Caprock Group LLC now owns 4,863 shares of the specialty retailer’s stock worth $678,000 after acquiring an additional 1,739 shares during the last quarter. Quest Partners LLC lifted its position in Genuine Parts by 409,500.0% during the second quarter. Quest Partners LLC now owns 4,096 shares of the specialty retailer’s stock valued at $567,000 after purchasing an additional 4,095 shares during the last quarter. Finally, Choreo LLC increased its stake in Genuine Parts by 271.7% during the second quarter. Choreo LLC now owns 5,133 shares of the specialty retailer’s stock worth $688,000 after acquiring an additional 3,752 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Stock Down 0.4 %

Genuine Parts stock traded down $0.52 during mid-day trading on Friday, reaching $116.01. 861,865 shares of the company were exchanged, compared to its average volume of 977,290. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The firm has a market cap of $16.13 billion, a P/E ratio of 14.93 and a beta of 0.95. The business has a fifty day moving average of $120.89 and a 200 day moving average of $131.29. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. Genuine Parts’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.49 EPS. Research analysts anticipate that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were paid a $1.00 dividend. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.45%. Genuine Parts’s dividend payout ratio (DPR) is 51.48%.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the sale, the director now directly owns 11,357 shares in the company, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Evercore ISI increased their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. UBS Group decreased their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Finally, Wedbush lowered their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Genuine Parts has an average rating of “Hold” and a consensus price target of $139.57.

About Genuine Parts

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.