Argyle Capital Management LLC Raises Position in Genuine Parts (NYSE:GPC)

Argyle Capital Management LLC raised its holdings in shares of Genuine Parts (NYSE:GPC) by 4.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,261 shares of the specialty retailer’s stock after buying an additional 1,263 shares during the quarter. Genuine Parts comprises about 1.3% of Argyle Capital Management LLC’s holdings, making the stock its 28th largest position. Argyle Capital Management LLC’s holdings in Genuine Parts were worth $3,300,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Quantinno Capital Management LP increased its position in shares of Genuine Parts by 74.0% in the third quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock worth $1,580,000 after purchasing an additional 4,809 shares during the last quarter. Caprock Group LLC purchased a new position in Genuine Parts in the 4th quarter worth approximately $540,000. Miramar Capital LLC increased its holdings in shares of Genuine Parts by 9.8% in the 3rd quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock worth $12,264,000 after buying an additional 7,845 shares during the last quarter. Verity & Verity LLC raised its position in shares of Genuine Parts by 9.7% during the 4th quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock valued at $12,198,000 after buying an additional 9,199 shares in the last quarter. Finally, Conning Inc. lifted its holdings in shares of Genuine Parts by 8.2% during the 3rd 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.

Wall Street Analyst Weigh In

GPC has been the topic of a number of research reports. Loop Capital initiated coverage on Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price target on the stock. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Truist Financial boosted their target price on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Finally, Evercore ISI lowered their price objective on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $137.63.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.37% of the company’s stock.

Genuine Parts Stock Up 0.7 %

Shares of Genuine Parts stock opened at $122.95 on Friday. 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 52-week low of $112.74 and a 52-week high of $164.45. The company’s 50 day moving average price is $118.76 and its 200-day moving average price is $126.72. The stock has a market capitalization of $17.06 billion, a price-to-earnings ratio of 19.00 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.07. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same quarter last year, the firm earned $2.26 EPS. Equities research analysts forecast that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be given a dividend of $1.03 per share. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. This represents a $4.12 dividend on an annualized basis and a yield of 3.35%. 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.