Genuine Parts (NYSE:GPC) Shares Bought by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC raised its position in shares of Genuine Parts (NYSE:GPC - Free Report) by 13.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 303,186 shares of the specialty retailer's stock after buying an additional 35,102 shares during the quarter. Silvercrest Asset Management Group LLC owned about 0.22% of Genuine Parts worth $35,400,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GPC. Millstone Evans Group LLC bought a new position in shares of Genuine Parts during the 4th quarter valued at approximately $25,000. Kestra Investment Management LLC bought a new position in shares of Genuine Parts during the 4th quarter valued at approximately $28,000. First Command Advisory Services Inc. bought a new position in shares of Genuine Parts during the 4th quarter valued at approximately $28,000. Compass Planning Associates Inc bought a new position in shares of Genuine Parts during the 4th quarter valued at approximately $29,000. Finally, Synergy Asset Management LLC bought a new position in shares of Genuine Parts during the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 78.83% of the company's stock.

Genuine Parts Stock Down 0.8%

Shares of NYSE GPC traded down $1.00 during mid-day trading on Tuesday, reaching $128.09. 1,062,009 shares of the company were exchanged, compared to its average volume of 1,277,368. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The stock has a market cap of $17.78 billion, a price-to-earnings ratio of 19.80 and a beta of 0.76. Genuine Parts has a 1 year low of $104.01 and a 1 year high of $152.12. The firm has a 50-day moving average of $117.96 and a 200 day moving average of $119.87.

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

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be issued a $1.03 dividend. The ex-dividend date is Friday, June 6th. This represents a $4.12 annualized dividend and a yield of 3.22%. Genuine Parts's dividend payout ratio (DPR) is presently 67.65%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Evercore ISI cut their target price on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Argus raised Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. StockNews.com downgraded Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Finally, Truist Financial upped their price objective on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average 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.