Genuine Parts (NYSE:GPC) Shares Purchased by Siemens Fonds Invest GmbH

Siemens Fonds Invest GmbH increased its stake in Genuine Parts (NYSE:GPC) by 166.8% in the fourth quarter, Holdings Channel reports. The firm owned 6,826 shares of the specialty retailer’s stock after purchasing an additional 4,268 shares during the period. Siemens Fonds Invest GmbH’s holdings in Genuine Parts were worth $797,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of GPC. Shell Asset Management Co. lifted its stake in shares of Genuine Parts by 108.0% during the fourth quarter. Shell Asset Management Co. now owns 6,312 shares of the specialty retailer’s stock worth $737,000 after buying an additional 3,277 shares during the period. Silvercrest Asset Management Group LLC grew its stake in Genuine Parts by 13.1% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 303,186 shares of the specialty retailer’s stock valued at $35,400,000 after purchasing an additional 35,102 shares during the last quarter. Rafferty Asset Management LLC increased its holdings in shares of Genuine Parts by 12.7% in the fourth quarter. Rafferty Asset Management LLC now owns 12,922 shares of the specialty retailer’s stock valued at $1,509,000 after purchasing an additional 1,453 shares during the period. Raiffeisen Bank International AG acquired a new position in shares of Genuine Parts in the fourth quarter valued at about $205,000. Finally, Redwood Investment Management LLC purchased a new position in shares of Genuine Parts in the fourth quarter worth about $1,757,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Trading Up 0.9%

GPC stock opened at $128.67 on Friday. Genuine Parts has a 52-week low of $104.01 and a 52-week high of $153.44. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The firm has a market cap of $17.86 billion, a P/E ratio of 19.89 and a beta of 0.76. The company’s 50-day simple moving average is $117.81 and its 200-day simple moving average is $119.72.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.09. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.83 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. As a group, equities analysts forecast that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a yield of 3.20%. Genuine Parts’s dividend payout ratio is currently 67.65%.

Analysts Set New Price Targets

Several brokerages recently weighed in on GPC. Truist Financial increased their price target on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. The Goldman Sachs Group reiterated a “sell” rating and issued a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Argus raised shares of Genuine Parts to a “strong-buy” rating in a report on Friday, April 25th. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research report on Saturday, April 26th. Finally, Evercore ISI decreased their price objective on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $130.86.

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.