Tompkins Financial Corp Increases Holdings in Genuine Parts (NYSE:GPC)

Tompkins Financial Corp grew its holdings in Genuine Parts (NYSE:GPC) by 271.7% during the 4th quarter, Holdings Channel reports. The fund owned 1,368 shares of the specialty retailer’s stock after buying an additional 1,000 shares during the period. Tompkins Financial Corp’s holdings in Genuine Parts were worth $160,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of GPC. Ashton Thomas Securities LLC bought a new stake in Genuine Parts during the third quarter valued at about $26,000. Capital Performance Advisors LLP bought a new stake in Genuine Parts in the third quarter worth $31,000. Concord Wealth Partners lifted its holdings in shares of Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 119 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Genuine Parts in the 3rd quarter worth approximately $44,000. Finally, First Financial Corp IN bought a new position in Genuine Parts during the fourth quarter valued at $44,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Loop Capital initiated coverage on Genuine Parts in a report on Thursday. They set a “buy” rating and a $155.00 target price for the company. Truist Financial cut their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, Evercore ISI lifted their target price on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $141.50.

Genuine Parts Stock Up 1.7 %

Shares of GPC stock opened at $119.38 on Friday. The stock’s fifty day moving average price is $120.76 and its 200 day moving average price is $130.54. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a market cap of $16.60 billion, a price-to-earnings ratio of 15.36 and a beta of 0.95. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. Genuine Parts’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.49 EPS. On average, research analysts expect that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.35%. The ex-dividend date was Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is currently 51.48%.

Insider Transactions at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the sale, the director now directly owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.37% of the company’s stock.

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.