Allied Investment Advisors LLC Takes $7.96 Million Position in Genuine Parts (NYSE:GPC)

Allied Investment Advisors LLC purchased a new stake in Genuine Parts (NYSE:GPC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 66,805 shares of the specialty retailer's stock, valued at approximately $7,959,000.

Other hedge funds have also modified their holdings of the company. Investors Research Corp lifted its stake in Genuine Parts by 75.3% in the first quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock worth $35,000 after acquiring an additional 125 shares during the last quarter. Rothschild Investment LLC lifted its position in shares of Genuine Parts by 55.1% during the 1st quarter. Rothschild Investment LLC now owns 1,070 shares of the specialty retailer's stock worth $127,000 after purchasing an additional 380 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Genuine Parts by 20,194.9% during the 1st quarter. GAMMA Investing LLC now owns 476,322 shares of the specialty retailer's stock worth $56,749,000 after purchasing an additional 473,975 shares during the last quarter. Marcum Wealth LLC grew its stake in shares of Genuine Parts by 9.5% during the first quarter. Marcum Wealth LLC now owns 3,719 shares of the specialty retailer's stock worth $443,000 after purchasing an additional 323 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Genuine Parts by 30.3% in the fourth quarter. Wellington Management Group LLP now owns 29,717 shares of the specialty retailer's stock valued at $3,470,000 after buying an additional 6,916 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Price Performance

Shares of NYSE GPC traded down $0.39 during midday trading on Tuesday, hitting $127.88. The company had a trading volume of 998,121 shares, compared to its average volume of 1,289,033. Genuine Parts has a twelve month low of $104.01 and a twelve month high of $149.22. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $17.75 billion, a price-to-earnings ratio of 19.77 and a beta of 0.76. The business has a 50-day simple moving average of $119.11 and a two-hundred day simple moving average of $120.22.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.83 billion. Equities research analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm 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 3.22%. Genuine Parts's dividend payout ratio (DPR) is presently 67.65%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. The Goldman Sachs Group reaffirmed a "sell" rating and set a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Argus raised Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. Evercore ISI dropped their price target on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Truist Financial boosted their price objective on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Finally, Wall Street Zen cut Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Genuine Parts has a consensus rating of "Moderate Buy" and an average price target of $130.86.

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.