Genuine Parts Company (NYSE:GPC) Holdings Boosted by United Community Bank

United Community Bank grew its position in Genuine Parts Company (NYSE:GPC - Free Report) by 4,452.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,251 shares of the specialty retailer's stock after acquiring an additional 15,894 shares during the quarter. United Community Bank's holdings in Genuine Parts were worth $1,936,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in Genuine Parts by 12.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer's stock valued at $198,338,000 after purchasing an additional 182,965 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Genuine Parts by 436.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer's stock worth $3,672,000 after purchasing an additional 25,583 shares in the last quarter. Parvin Asset Management LLC acquired a new stake in shares of Genuine Parts during the fourth quarter worth about $1,320,000. FORA Capital LLC increased its position in Genuine Parts by 410.9% in the 4th quarter. FORA Capital LLC now owns 26,332 shares of the specialty retailer's stock valued at $3,075,000 after acquiring an additional 21,178 shares during the period. Finally, Bastion Asset Management Inc. acquired a new position in Genuine Parts in the 4th quarter valued at about $3,391,000. Institutional investors and hedge funds own 78.83% of the company's stock.

Genuine Parts Stock Up 0.4%

NYSE:GPC traded up $0.51 during mid-day trading on Thursday, reaching $123.06. The stock had a trading volume of 292,273 shares, compared to its average volume of 1,294,911. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.15 and a quick ratio of 0.52. The stock's 50 day simple moving average is $124.02 and its two-hundred day simple moving average is $120.50. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $149.22. The company has a market capitalization of $17.08 billion, a price-to-earnings ratio of 20.22 and a beta of 0.74.

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 for the quarter, beating analysts' consensus estimates of $1.66 by $0.09. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. The company had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.83 billion. Equities analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th were given a $1.03 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $4.12 annualized dividend and a yield of 3.35%. Genuine Parts's dividend payout ratio (DPR) is 67.65%.

Analysts Set New Price Targets

GPC has been the topic of several recent analyst reports. Truist Financial boosted their target price on Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Argus upgraded Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. The Goldman Sachs Group reissued a "sell" rating and set a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Wall Street Zen lowered Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Finally, Evercore ISI lowered their price target on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Genuine Parts currently has a consensus rating of "Moderate Buy" and an average target price of $130.86.

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.