Mork Capital Management LLC Makes New $992,000 Investment in Genuine Parts (NYSE:GPC)

Mork Capital Management LLC acquired a new position in shares of Genuine Parts (NYSE:GPC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 8,500 shares of the specialty retailer's stock, valued at approximately $992,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Caprock Group LLC acquired a new stake in Genuine Parts during the fourth quarter worth $540,000. Dimensional Fund Advisors LP increased its stake in Genuine Parts by 12.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer's stock worth $198,338,000 after acquiring an additional 182,965 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in 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 acquiring an additional 25,583 shares during the last quarter. Verity & Verity LLC increased its stake in Genuine Parts by 9.7% during the fourth quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer's stock worth $12,198,000 after acquiring an additional 9,199 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Genuine Parts during the fourth quarter worth $21,840,000. Hedge funds and other institutional investors own 78.83% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. StockNews.com cut Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Loop Capital began coverage on Genuine Parts in a research note on Thursday, January 16th. They set a "buy" rating and a $155.00 target price for the company. Truist Financial lifted 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. Northcoast Research cut Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Finally, Evercore ISI dropped their price objective 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. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $130.86.

Genuine Parts Stock Up 0.9%

GPC traded up $1.19 on Friday, hitting $128.67. 2,063,023 shares of the company were exchanged, compared to its average volume of 1,273,165. Genuine Parts has a twelve month low of $104.01 and a twelve month high of $154.84. The company has a market cap of $17.86 billion, a price-to-earnings ratio of 19.89 and a beta of 0.76. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The firm has a 50-day moving average price of $117.71 and a two-hundred day moving average price of $119.62.

Genuine Parts (NYSE:GPC - Get Free Report) last released its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, topping the consensus estimate of $1.66 by $0.09. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The firm had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.83 billion. On average, equities analysts predict that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be paid 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 yield of 3.20%. Genuine Parts's payout ratio is 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.