TrueMark Investments LLC Has $2.54 Million Position in Genuine Parts (NYSE:GPC)

TrueMark Investments LLC grew its position in shares of Genuine Parts (NYSE:GPC) by 9.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,752 shares of the specialty retailer’s stock after purchasing an additional 1,817 shares during the quarter. TrueMark Investments LLC’s holdings in Genuine Parts were worth $2,540,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Equity Investment Corp acquired a new stake in Genuine Parts during the 4th quarter worth approximately $84,128,000. Raymond James Financial Inc. bought a new stake in shares of Genuine Parts in the fourth quarter worth $57,407,000. State Street Corp increased its holdings in Genuine Parts by 5.4% in the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock valued at $1,103,300,000 after purchasing an additional 401,180 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in Genuine Parts by 1,038.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer’s stock worth $38,803,000 after purchasing an additional 253,400 shares during the last quarter. Finally, Synovus Financial Corp lifted its holdings in Genuine Parts by 95.4% during the 3rd quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer’s stock worth $54,708,000 after buying an additional 191,272 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GPC shares. Truist Financial raised their price objective on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Evercore ISI lowered their price target 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. Loop Capital began coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. Finally, Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Eight 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 company. Based on data from MarketBeat.com, Genuine Parts has a consensus rating of “Hold” and a consensus price target of $137.63.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $117.84 on Wednesday. The firm has a market capitalization of $16.35 billion, a P/E ratio of 18.21 and a beta of 0.93. The firm’s 50-day moving average price is $121.09 and its 200-day moving average price is $124.35. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. 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. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The business had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the prior year, the business earned $2.26 EPS. Equities research analysts anticipate 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. Shareholders 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 yield of 3.50%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s payout ratio is 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.