Simplicity Solutions LLC Has $624,000 Stock Position in Genuine Parts (NYSE:GPC)

Simplicity Solutions LLC lifted its stake in Genuine Parts (NYSE:GPC) by 19.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,509 shares of the specialty retailer’s stock after purchasing an additional 726 shares during the quarter. Simplicity Solutions LLC’s holdings in Genuine Parts were worth $624,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Salem Investment Counselors Inc. boosted its position in Genuine Parts by 42.9% during the 4th quarter. Salem Investment Counselors Inc. now owns 200 shares of the specialty retailer’s stock worth $35,000 after acquiring an additional 60 shares during the period. Wetherby Asset Management Inc. boosted its position in Genuine Parts by 3.0% during the 1st quarter. Wetherby Asset Management Inc. now owns 2,101 shares of the specialty retailer’s stock worth $352,000 after acquiring an additional 61 shares during the period. Federated Hermes Inc. boosted its position in Genuine Parts by 2.9% during the 3rd quarter. Federated Hermes Inc. now owns 2,402 shares of the specialty retailer’s stock worth $359,000 after acquiring an additional 68 shares during the period. Axxcess Wealth Management LLC boosted its position in Genuine Parts by 5.0% during the 3rd quarter. Axxcess Wealth Management LLC now owns 1,546 shares of the specialty retailer’s stock worth $223,000 after acquiring an additional 74 shares during the period. Finally, Financial Counselors Inc. boosted its position in Genuine Parts by 0.3% during the 3rd quarter. Financial Counselors Inc. now owns 22,476 shares of the specialty retailer’s stock worth $3,245,000 after acquiring an additional 76 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Down 0.3 %

GPC opened at $144.07 on Thursday. The business has a 50-day moving average of $149.56 and a 200-day moving average of $142.09. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.23 and a quick ratio of 0.63. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $174.91. The company has a market capitalization of $20.09 billion, a PE ratio of 15.44 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Thursday, February 15th. The specialty retailer reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.06. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The business had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same period last year, the business earned $2.05 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year. Equities research analysts forecast that Genuine Parts will post 9.76 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.78%. This is an increase from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, February 29th. Genuine Parts’s dividend payout ratio (DPR) is presently 42.87%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Truist Financial restated a “buy” rating and set a $167.00 price objective on shares of Genuine Parts in a research report on Friday, April 12th. Wedbush restated a “neutral” rating and set a $140.00 price objective on shares of Genuine Parts in a research report on Friday, February 16th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Finally, Evercore ISI cut their price target on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $168.33.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the transaction, the director now directly owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.37% of the stock is owned by company insiders.

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.