TrueMark Investments LLC Acquires 2,295 Shares of Genuine Parts Company (NYSE:GPC)

TrueMark Investments LLC increased its stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 10.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,047 shares of the specialty retailer's stock after purchasing an additional 2,295 shares during the quarter. TrueMark Investments LLC's holdings in Genuine Parts were worth $2,865,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Genuine Parts in the 4th quarter valued at $206,645,000. Junto Capital Management LP acquired a new position in Genuine Parts in the 4th quarter worth about $94,868,000. Equity Investment Corp bought a new position in Genuine Parts in the fourth quarter valued at about $84,128,000. Alyeska Investment Group L.P. grew its holdings in shares of Genuine Parts by 204.7% during the fourth quarter. Alyeska Investment Group L.P. now owns 789,050 shares of the specialty retailer's stock worth $92,129,000 after purchasing an additional 530,057 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Genuine Parts by 18.9% in the 4th quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock valued at $380,898,000 after buying an additional 518,851 shares during the last quarter. Institutional investors own 78.83% of the company's stock.

Genuine Parts Stock Down 0.0%

Shares of Genuine Parts stock traded down $0.06 during trading on Tuesday, reaching $121.23. 740,498 shares of the company traded hands, compared to its average volume of 1,300,070. The firm has a market capitalization of $16.83 billion, a PE ratio of 19.91 and a beta of 0.76. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $149.22. The company has a 50 day moving average price of $121.52 and a 200-day moving average price of $119.95. 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 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. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. Genuine Parts had a net margin of 3.60% and a return on equity of 23.71%. As a group, equities research analysts expect that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be issued a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $4.12 annualized dividend and a dividend yield of 3.40%. Genuine Parts's dividend payout ratio is 67.65%.

Analyst Ratings Changes

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