Genuine Parts (NYSE:GPC) Shares Purchased by Marcum Wealth LLC

Marcum Wealth LLC raised its position in Genuine Parts (NYSE:GPC) by 9.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 3,719 shares of the specialty retailer’s stock after acquiring an additional 323 shares during the quarter. Marcum Wealth LLC’s holdings in Genuine Parts were worth $443,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Millstone Evans Group LLC bought a new position in Genuine Parts in the 4th quarter worth approximately $25,000. Kestra Investment Management LLC acquired a new position in Genuine Parts during the 4th quarter worth $28,000. First Command Advisory Services Inc. bought a new position in shares of Genuine Parts in the fourth quarter worth $28,000. Compass Planning Associates Inc acquired a new position in shares of Genuine Parts during the fourth quarter valued at $29,000. Finally, Synergy Asset Management LLC bought a new stake in shares of Genuine Parts during the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Up 0.3%

GPC stock opened at $126.33 on Friday. The firm has a market cap of $17.53 billion, a PE ratio of 19.52 and a beta of 0.76. Genuine Parts has a 12 month low of $104.01 and a 12 month high of $149.22. 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 firm has a 50 day simple moving average of $118.73 and a 200 day simple moving average of $120.20.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.09. The company had revenue of $5.87 billion during 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%. Equities research analysts forecast that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Friday, June 6th. Genuine Parts’s dividend payout ratio is 67.65%.

Analysts Set New Price Targets

GPC has been the subject of a number of recent analyst reports. Evercore ISI decreased their target price on shares of Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Truist Financial increased their price objective on shares of Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Wall Street Zen lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th. The Goldman Sachs Group restated a “sell” rating and issued a $114.00 target price (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Finally, Argus upgraded Genuine Parts to a “strong-buy” rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.