Searle & CO. Has $450,000 Holdings in Genuine Parts (NYSE:GPC)

Searle & CO. reduced its holdings in Genuine Parts (NYSE:GPC) by 10.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,676 shares of the specialty retailer’s stock after selling 324 shares during the quarter. Searle & CO.’s holdings in Genuine Parts were worth $450,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Oak Thistle LLC acquired a new position in Genuine Parts during the 1st quarter worth $221,000. Vinva Investment Management Ltd acquired a new position in Genuine Parts during the 1st quarter worth $937,000. Securian Asset Management Inc. lifted its holdings in Genuine Parts by 1.8% during the 1st quarter. Securian Asset Management Inc. now owns 11,934 shares of the specialty retailer’s stock worth $1,997,000 after buying an additional 215 shares in the last quarter. State of Michigan Retirement System lifted its holdings in Genuine Parts by 1.0% during the 1st quarter. State of Michigan Retirement System now owns 38,729 shares of the specialty retailer’s stock worth $6,480,000 after buying an additional 400 shares in the last quarter. Finally, Creative Planning lifted its holdings in Genuine Parts by 0.5% during the 4th quarter. Creative Planning now owns 45,649 shares of the specialty retailer’s stock worth $7,921,000 after buying an additional 208 shares in the last quarter. 77.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GPC has been the topic of several research reports. Wedbush reduced their price objective on Genuine Parts from $170.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, July 21st. StockNews.com started coverage on shares of Genuine Parts in a research report on Thursday, August 17th. They set a “buy” rating for the company. Bank of America upgraded shares of Genuine Parts from a “neutral” rating to a “buy” rating and upped their target price for the company from $185.00 to $189.00 in a research report on Thursday, June 1st. Northcoast Research started coverage on shares of Genuine Parts in a research report on Wednesday, June 28th. They set a “buy” rating and a $195.00 target price for the company. Finally, Truist Financial dropped their target price on shares of Genuine Parts from $195.00 to $191.00 and set a “buy” rating for the company in a research report on Friday, July 21st. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $177.00.

Genuine Parts Trading Up 1.1 %

Shares of GPC traded up $1.61 during trading hours on Wednesday, reaching $148.89. The stock had a trading volume of 184,456 shares, compared to its average volume of 996,559. The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 0.73. Genuine Parts has a 52 week low of $145.30 and a 52 week high of $187.73. The firm has a 50-day moving average of $157.35 and a 200 day moving average of $161.78. The company has a market cap of $20.91 billion, a P/E ratio of 17.22, a P/E/G ratio of 1.83 and a beta of 0.90.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Thursday, July 20th. The specialty retailer reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.10. Genuine Parts had a net margin of 5.30% and a return on equity of 32.43%. The business had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.96 billion. During the same quarter in the prior year, the company earned $2.20 EPS. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. On average, sell-side analysts expect that Genuine Parts will post 9.24 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be issued a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Thursday, September 7th. Genuine Parts’s dividend payout ratio (DPR) is presently 44.44%.

Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.