Pinnacle Financial Partners Inc Purchases 115 Shares of Genuine Parts (NYSE:GPC)

Pinnacle Financial Partners Inc increased its holdings in Genuine Parts (NYSE:GPC) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,630 shares of the specialty retailer’s stock after purchasing an additional 115 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Genuine Parts were worth $541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Metis Global Partners LLC lifted its holdings in Genuine Parts by 1.9% in the third quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock valued at $625,000 after acquiring an additional 85 shares during the period. Guardian Wealth Advisors LLC increased its position in shares of Genuine Parts by 2.7% during the 3rd quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock valued at $484,000 after purchasing an additional 91 shares during the last quarter. Marco Investment Management LLC increased its position in shares of Genuine Parts by 1.2% during the 3rd quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock valued at $1,104,000 after purchasing an additional 91 shares during the last quarter. Hartford Financial Management Inc. lifted its stake in shares of Genuine Parts by 0.5% in the 4th quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer’s stock worth $2,185,000 after purchasing an additional 99 shares during the period. Finally, Citizens Financial Group Inc. RI boosted its holdings in shares of Genuine Parts by 2.8% in the third quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer’s stock worth $533,000 after buying an additional 103 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the firm’s 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 completion of the transaction, the director now owns 11,357 shares in the company, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.37% of the stock is currently owned by insiders.

Analyst Ratings Changes

GPC has been the subject of a number of research reports. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Truist Financial upped their price objective on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Evercore ISI reduced their price target on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a research report on Wednesday, February 19th. Finally, Loop Capital began coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective on the stock. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and an average target price of $137.63.

Genuine Parts Price Performance

Shares of Genuine Parts stock opened at $121.68 on Monday. The company has a market capitalization of $16.92 billion, a price-to-earnings ratio of 18.81 and a beta of 0.94. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The stock’s 50-day simple moving average is $118.29 and its 200-day simple moving average is $126.99. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS 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 company had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same period in the previous year, the firm earned $2.26 EPS. As a group, analysts expect that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.39%. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 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.