Schwartz Investment Counsel Inc. Has $48.01 Million Stake in Genuine Parts Company (NYSE:GPC)

Schwartz Investment Counsel Inc. lifted its stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 17.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 403,000 shares of the specialty retailer's stock after buying an additional 60,500 shares during the quarter. Genuine Parts comprises approximately 1.6% of Schwartz Investment Counsel Inc.'s investment portfolio, making the stock its 21st largest holding. Schwartz Investment Counsel Inc. owned about 0.29% of Genuine Parts worth $48,013,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Millstone Evans Group LLC bought a new position in shares of Genuine Parts in the 4th quarter worth $25,000. First Command Advisory Services Inc. bought a new position in shares of Genuine Parts in the 4th quarter worth $28,000. Aster Capital Management DIFC Ltd bought a new position in shares of Genuine Parts in the 4th quarter worth $33,000. OFI Invest Asset Management bought a new position in shares of Genuine Parts in the 4th quarter worth $34,000. Finally, Investors Research Corp lifted its holdings in shares of Genuine Parts by 75.3% in the 1st quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock worth $35,000 after purchasing an additional 125 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on GPC shares. Evercore ISI dropped their price objective on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Argus upgraded Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. Wall Street Zen cut Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. The Goldman Sachs Group restated a "sell" rating and set a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Finally, Truist Financial raised their price objective on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. 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 given a strong buy rating to the company. Based on data from MarketBeat, Genuine Parts currently has an average rating of "Moderate Buy" and a consensus target price of $130.86.

Genuine Parts Trading Up 1.2%

Shares of Genuine Parts stock opened at $120.47 on Friday. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $149.22. The firm has a market cap of $16.72 billion, a PE ratio of 19.78 and a beta of 0.76. The stock has a fifty day moving average price of $121.89 and a 200-day moving average price of $119.86. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.15 and a quick ratio of 0.52.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.09. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.83 billion. Equities research analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

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

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