Goodman Advisory Group LLC Takes Position in Genuine Parts Company (NYSE:GPC)

Goodman Advisory Group LLC acquired a new position in shares of Genuine Parts Company (NYSE:GPC - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,087 shares of the specialty retailer's stock, valued at approximately $249,000.

Several other large investors also recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of Genuine Parts by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer's stock worth $391,604,000 after buying an additional 65,783 shares during the period. Invesco Ltd. increased its position in shares of Genuine Parts by 18.9% during the fourth quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock worth $380,898,000 after buying an additional 518,851 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Genuine Parts by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,889,930 shares of the specialty retailer's stock worth $337,428,000 after buying an additional 145,960 shares during the period. Stifel Financial Corp increased its position in shares of Genuine Parts by 21.6% during the fourth quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer's stock worth $292,233,000 after buying an additional 445,259 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of Genuine Parts by 5.1% during the fourth quarter. Ameriprise Financial Inc. now owns 2,136,214 shares of the specialty retailer's stock worth $249,426,000 after buying an additional 104,343 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GPC. Argus raised shares of Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. Truist Financial increased their target price on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Evercore ISI cut their target price 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. Wall Street Zen lowered shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Finally, The Goldman Sachs Group reissued a "sell" rating and set a $114.00 target price (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $130.86.

Genuine Parts Stock Up 1.2%

Shares of Genuine Parts stock traded up $1.41 during trading hours on Friday, reaching $120.47. The company's stock had a trading volume of 1,000,763 shares, compared to its average volume of 1,302,024. Genuine Parts Company has a one year low of $104.01 and a one year high of $149.22. The company has a market capitalization of $16.72 billion, a P/E ratio of 19.78 and a beta of 0.76. The stock's fifty day simple moving average is $121.89 and its two-hundred day simple moving average is $119.84. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.52 and a current ratio of 1.15.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings data 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 net margin of 3.60% and a return on equity of 23.71%. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. On average, research analysts forecast that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $4.12 annualized dividend and a dividend yield of 3.42%. Genuine Parts's dividend payout ratio is currently 67.65%.

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.