Navellier & Associates Inc. Buys 1,150 Shares of Genuine Parts (NYSE:GPC)

Navellier & Associates Inc. raised its holdings in shares of Genuine Parts (NYSE:GPC) by 34.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,516 shares of the specialty retailer’s stock after buying an additional 1,150 shares during the quarter. Navellier & Associates Inc.’s holdings in Genuine Parts were worth $527,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GPC. Ashton Thomas Securities LLC acquired a new position in shares of Genuine Parts during the third quarter worth approximately $26,000. Kestra Investment Management LLC acquired a new position in shares of Genuine Parts during the fourth quarter worth approximately $28,000. Compass Planning Associates Inc acquired a new position in shares of Genuine Parts during the fourth quarter worth approximately $29,000. Capital Performance Advisors LLP acquired a new position in shares of Genuine Parts during the third quarter worth approximately $31,000. Finally, Synergy Asset Management LLC acquired a new position in shares of Genuine Parts during the fourth quarter worth approximately $32,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

Genuine Parts stock opened at $121.68 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The stock has a fifty day moving average price of $118.29 and a two-hundred day moving average price of $126.99. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The firm has a market capitalization of $16.92 billion, a P/E ratio of 18.81 and a beta of 0.94.

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

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts’s dividend payout ratio is currently 63.68%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GPC. Evercore ISI cut their price target on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Truist Financial upped their target price on Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Loop Capital initiated coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price for the company. Finally, Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Eight equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and an average target price of $137.63.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the transaction, the director now directly owns 11,357 shares in the company, valued at $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.37% of the company’s stock.

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.