Applied Capital LLC FL Acquires 323 Shares of Genuine Parts (NYSE:GPC)

Applied Capital LLC FL increased its position in Genuine Parts (NYSE:GPC) by 2.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 11,958 shares of the specialty retailer’s stock after acquiring an additional 323 shares during the quarter. Genuine Parts accounts for about 1.5% of Applied Capital LLC FL’s investment portfolio, making the stock its 26th biggest holding. Applied Capital LLC FL’s holdings in Genuine Parts were worth $1,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of GPC. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Genuine Parts during the third quarter valued at $662,000. Tower Research Capital LLC TRC lifted its position in shares of Genuine Parts by 340.1% in the third quarter. Tower Research Capital LLC TRC now owns 9,423 shares of the specialty retailer’s stock valued at $1,360,000 after acquiring an additional 7,282 shares in the last quarter. Bank of Nova Scotia lifted its position in shares of Genuine Parts by 87.9% in the third quarter. Bank of Nova Scotia now owns 27,732 shares of the specialty retailer’s stock valued at $4,004,000 after acquiring an additional 12,970 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its position in shares of Genuine Parts by 422.8% in the third quarter. Schonfeld Strategic Advisors LLC now owns 67,772 shares of the specialty retailer’s stock valued at $9,785,000 after acquiring an additional 54,808 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its position in shares of Genuine Parts by 507.8% in the third quarter. Quadrature Capital Ltd now owns 10,807 shares of the specialty retailer’s stock valued at $1,560,000 after acquiring an additional 9,029 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GPC. Jefferies Financial Group boosted their price objective on Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research report on Friday, April 19th. Evercore ISI decreased their target price on Genuine Parts from $165.00 to $160.00 and set an “in-line” rating on the stock in a research report on Tuesday. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, May 24th. 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. Finally, Wedbush reissued a “neutral” rating and set a $170.00 price target (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 three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $169.00.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 3,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total value of $453,870.00. Following the sale, the director now directly owns 13,006 shares in the company, valued at $1,967,677.74. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.37% of the company’s stock.

Genuine Parts Trading Up 1.5 %

GPC stock traded up $2.00 during midday trading on Tuesday, reaching $135.85. 502,205 shares of the company traded hands, compared to its average volume of 990,687. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $170.57. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14. The business has a 50 day moving average of $147.96 and a 200-day moving average of $146.55. The firm has a market capitalization of $18.92 billion, a price-to-earnings ratio of 15.19 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The business had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the prior year, the business posted $2.14 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts expect that Genuine Parts will post 9.92 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 7th were issued a $1.00 dividend. The ex-dividend date was Friday, June 7th. This represents a $4.00 annualized dividend and a dividend yield of 2.94%. Genuine Parts’s payout ratio is 44.59%.

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.