Summit Investment Advisors Inc. Has $1.11 Million Stock Holdings in Genuine Parts (NYSE:GPC)

Summit Investment Advisors Inc. reduced its position in shares of Genuine Parts (NYSE:GPC) by 25.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,516 shares of the specialty retailer’s stock after selling 3,291 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Genuine Parts were worth $1,111,000 at the end of the most recent quarter.

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

Genuine Parts Stock Up 1.6 %

GPC opened at $114.02 on Friday. Genuine Parts has a twelve month low of $104.01 and a twelve month high of $164.45. The company’s 50-day moving average price is $119.97 and its two-hundred day moving average price is $121.62. The stock has a market cap of $15.82 billion, a price-to-earnings ratio of 17.62 and a beta of 0.82. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating 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 business 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 earned $2.26 earnings per share. As a group, equities analysts expect that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Friday, March 7th were issued a $1.03 dividend. The ex-dividend date was Friday, March 7th. This represents a $4.12 annualized dividend and a yield of 3.61%. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio (DPR) is 63.68%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GPC. Loop Capital initiated coverage on Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price target for the company. Evercore ISI raised Genuine Parts from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $128.00 to $135.00 in a research report on Friday, April 4th. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Finally, Truist Financial increased their target price on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Genuine Parts has a consensus rating of “Hold” and an average target price of $135.88.

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.