Bastion Asset Management Inc. Takes Position in Genuine Parts (NYSE:GPC)

Bastion Asset Management Inc. bought a new stake in Genuine Parts (NYSE:GPC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 28,552 shares of the specialty retailer's stock, valued at approximately $3,391,000. Genuine Parts makes up about 2.2% of Bastion Asset Management Inc.'s holdings, making the stock its 19th biggest holding.

Several other hedge funds have also modified their holdings of the stock. Millstone Evans Group LLC purchased a new position in shares of Genuine Parts in the fourth quarter valued at $25,000. Kestra Investment Management LLC acquired a new stake in Genuine Parts during the 4th quarter valued at approximately $28,000. First Command Advisory Services Inc. bought a new position in Genuine Parts during the 4th quarter valued at $28,000. Compass Planning Associates Inc acquired a new position in shares of Genuine Parts in the 4th quarter worth approximately $29,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Genuine Parts during the 4th quarter valued at approximately $32,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GPC shares. Loop Capital began coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a "buy" rating and a $155.00 target price on the stock. Truist Financial lifted their price target on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Northcoast Research downgraded shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. Argus raised Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. Finally, StockNews.com downgraded Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $130.86.

Genuine Parts Stock Performance

Genuine Parts stock traded down $1.05 on Wednesday, reaching $115.97. 1,087,521 shares of the stock were exchanged, compared to its average volume of 1,250,494. The firm has a fifty day moving average price of $118.19 and a two-hundred day moving average price of $119.54. Genuine Parts has a twelve month low of $104.01 and a twelve month high of $158.65. The stock has a market cap of $16.10 billion, a PE ratio of 17.92 and a beta of 0.76. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.09. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The company had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.83 billion. Sell-side analysts anticipate that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th will be issued a $1.03 dividend. The ex-dividend date is Friday, June 6th. This represents a $4.12 annualized dividend and a yield of 3.55%. Genuine Parts's dividend payout ratio (DPR) is 67.65%.

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.