Genuine Parts (NYSE:GPC) Shares Purchased by Pinnacle West Asset Management Inc.

Pinnacle West Asset Management Inc. increased its holdings in shares of Genuine Parts (NYSE:GPC) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,035 shares of the specialty retailer’s stock after acquiring an additional 175 shares during the quarter. Pinnacle West Asset Management Inc.’s holdings in Genuine Parts were worth $821,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quantinno Capital Management LP boosted its position in Genuine Parts by 74.0% during the third quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock worth $1,580,000 after acquiring an additional 4,809 shares during the last quarter. Caprock Group LLC acquired a new position in Genuine Parts during the fourth quarter worth about $540,000. Miramar Capital LLC boosted its position in Genuine Parts by 9.8% during the third quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock worth $12,264,000 after acquiring an additional 7,845 shares during the last quarter. Verity & Verity LLC boosted its position 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, Conning Inc. boosted its position in Genuine Parts by 8.2% during the third quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock worth $36,499,000 after acquiring an additional 19,795 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the sale, the director now directly owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This represents a 12.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.37% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Loop Capital assumed coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price on the stock. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Truist Financial boosted their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Finally, Evercore ISI decreased their target price on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Genuine Parts presently has an average rating of “Hold” and an average price target of $137.63.

Genuine Parts Stock Performance

Shares of GPC stock opened at $123.22 on Wednesday. The firm’s 50 day moving average price is $118.46 and its 200-day moving average price is $126.78. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The firm has a market cap of $17.13 billion, a P/E ratio of 19.04 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping the consensus estimate of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same period in the prior year, the business posted $2.26 EPS. As a group, equities research analysts predict that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be paid a dividend of $1.03 per share. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 3.34%. The ex-dividend date is Friday, March 7th. Genuine Parts’s dividend payout ratio is presently 63.68%.

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.