Argent Advisors Inc. Has $1.32 Million Position in Genuine Parts (NYSE:GPC)

Argent Advisors Inc. reduced its holdings in shares of Genuine Parts (NYSE:GPC) by 3.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 11,277 shares of the specialty retailer’s stock after selling 411 shares during the period. Argent Advisors Inc.’s holdings in Genuine Parts were worth $1,317,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Kestra Investment Management LLC acquired a new stake in shares of Genuine Parts during the 4th quarter valued at about $28,000. First Command Advisory Services Inc. acquired a new position in Genuine Parts in the fourth quarter valued at about $28,000. Compass Planning Associates Inc acquired a new position in Genuine Parts in the fourth quarter valued at about $29,000. Synergy Asset Management LLC acquired a new position in Genuine Parts in the fourth quarter valued at about $32,000. Finally, OFI Invest Asset Management acquired a new position in Genuine Parts in the fourth quarter valued at about $34,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Trading Up 1.3 %

Shares of NYSE GPC opened at $123.60 on Tuesday. 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 company has a market cap of $17.15 billion, a PE ratio of 19.10 and a beta of 0.93. The company has a 50-day moving average of $120.53 and a two-hundred day moving average of $125.16. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45.

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

Genuine Parts Increases Dividend

The firm also recently declared 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 represents a $4.12 dividend on an annualized basis and a dividend yield of 3.33%. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts’s payout ratio is 63.68%.

Analysts Set New Price Targets

A number of research firms have commented on GPC. Loop Capital began coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target on the stock. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Truist Financial boosted their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Finally, Evercore ISI dropped their target price on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research note on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $137.63.

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.