Centric Wealth Management Purchases Shares of 17,531 Genuine Parts (NYSE:GPC)

Centric Wealth Management bought a new position in Genuine Parts (NYSE:GPC) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 17,531 shares of the specialty retailer’s stock, valued at approximately $2,457,000.

Several other institutional investors have also added to or reduced their stakes in GPC. Charles Schwab Investment Management Inc. grew its position in Genuine Parts by 7.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,707,699 shares of the specialty retailer’s stock worth $353,436,000 after acquiring an additional 185,913 shares during the last quarter. Invesco Ltd. increased its stake in shares of Genuine Parts by 71.1% in the third quarter. Invesco Ltd. now owns 2,590,036 shares of the specialty retailer’s stock worth $373,949,000 after buying an additional 1,076,361 shares during the period. Ameriprise Financial Inc. raised its holdings in Genuine Parts by 23.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,633,941 shares of the specialty retailer’s stock valued at $235,916,000 after buying an additional 313,438 shares during the last quarter. Stifel Financial Corp boosted its position in Genuine Parts by 2.0% during the 3rd quarter. Stifel Financial Corp now owns 1,597,765 shares of the specialty retailer’s stock valued at $230,687,000 after buying an additional 31,155 shares during the period. Finally, Northern Trust Corp grew its holdings in Genuine Parts by 4.3% in the 3rd quarter. Northern Trust Corp now owns 1,491,923 shares of the specialty retailer’s stock worth $215,404,000 after acquiring an additional 61,764 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Stock Down 0.5 %

Shares of GPC stock traded down $0.76 during trading hours on Wednesday, hitting $154.16. 292,079 shares of the company’s stock traded hands, compared to its average volume of 1,054,151. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. The stock has a market cap of $21.47 billion, a price-to-earnings ratio of 17.27 and a beta of 0.94. The stock’s fifty day simple moving average is $153.64 and its two-hundred day simple moving average is $143.61. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $174.91.

Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping the consensus estimate of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The business had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. During the same period in the previous year, the company posted $2.14 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. On average, analysts expect that Genuine Parts will post 9.94 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be paid a dividend of $1.00 per share. The ex-dividend date is Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a yield of 2.59%. Genuine Parts’s dividend payout ratio is currently 44.59%.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total transaction of $503,490.00. Following the completion of the sale, the director now owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

GPC has been the topic of several recent analyst reports. Truist Financial raised their target price on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Wedbush reissued a “neutral” rating and set a $170.00 price objective (up from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Evercore ISI dropped their target price on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Finally, Jefferies Financial Group lifted their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $173.10.

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.