Genuine Parts (NYSE:GPC) Shares Purchased by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC raised its position in Genuine Parts (NYSE:GPC - Free Report) by 114.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,135 shares of the specialty retailer's stock after acquiring an additional 4,870 shares during the quarter. Tower Research Capital LLC TRC's holdings in Genuine Parts were worth $1,067,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC grew its position in Genuine Parts by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer's stock valued at $391,604,000 after purchasing an additional 65,783 shares during the last quarter. Invesco Ltd. grew its holdings 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 valued at $380,898,000 after buying an additional 518,851 shares during the last quarter. 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 valued at $337,428,000 after acquiring an additional 145,960 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Genuine Parts by 6.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer's stock worth $257,124,000 after acquiring an additional 114,180 shares during the last quarter. Finally, Norges Bank bought a new position in Genuine Parts in the 4th quarter valued at approximately $206,645,000. 78.83% of the stock is owned by institutional investors.

Genuine Parts Stock Performance

Shares of Genuine Parts stock traded down $1.70 on Wednesday, reaching $116.56. 135,841 shares of the stock were exchanged, compared to its average volume of 1,244,690. The business has a 50 day moving average price of $118.79 and a two-hundred day moving average price of $120.39. The firm has a market capitalization of $16.18 billion, a price-to-earnings ratio of 18.02 and a beta of 0.82. Genuine Parts has a twelve month low of $104.01 and a twelve month high of $160.37. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.09. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.83 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. Analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

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 paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.53%. Genuine Parts's payout ratio is 67.65%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group restated a "sell" rating and issued a $114.00 price target (down from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Evercore ISI reduced their price target on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Northcoast Research downgraded shares of Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Loop Capital initiated coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a "buy" rating and a $155.00 price target for the company. Finally, Truist Financial boosted 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 issued a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock 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.