Koshinski Asset Management Inc. Raises Stake in Genuine Parts (NYSE:GPC)

Koshinski Asset Management Inc. boosted its stake in Genuine Parts (NYSE:GPC) by 67.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,463 shares of the specialty retailer’s stock after acquiring an additional 990 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Genuine Parts were worth $341,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Amalgamated Bank raised its position in shares of Genuine Parts by 10.7% in the 3rd quarter. Amalgamated Bank now owns 41,734 shares of the specialty retailer’s stock valued at $6,026,000 after purchasing an additional 4,047 shares in the last quarter. Teza Capital Management LLC acquired a new stake in Genuine Parts in the third quarter worth $1,593,000. LPL Financial LLC increased its position in Genuine Parts by 15.1% in the third quarter. LPL Financial LLC now owns 141,483 shares of the specialty retailer’s stock worth $20,427,000 after buying an additional 18,522 shares during the period. Schwartz Investment Counsel Inc. increased its position in Genuine Parts by 26.2% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 240,500 shares of the specialty retailer’s stock worth $33,309,000 after buying an additional 50,000 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its position in Genuine Parts by 21.8% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 51,242 shares of the specialty retailer’s stock worth $7,045,000 after buying an additional 9,183 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Evercore ISI increased their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, March 26th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Wedbush reaffirmed a “neutral” rating and set a $140.00 target price on shares of Genuine Parts in a report on Friday, February 16th. Finally, Truist Financial reissued a “buy” rating and issued a $167.00 price objective on shares of Genuine Parts in a research note on Friday. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.89.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the sale, the director now directly owns 14,397 shares in the company, valued at $2,230,383.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.37% of the company’s stock.

Genuine Parts Price Performance

Genuine Parts stock opened at $144.80 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.23 and a quick ratio of 0.63. The company has a market capitalization of $20.19 billion, a PE ratio of 15.52 and a beta of 0.94. Genuine Parts has a one year low of $126.35 and a one year high of $174.91. The business has a 50 day simple moving average of $149.47 and a 200 day simple moving average of $142.08.

Genuine Parts (NYSE:GPC) last released its earnings results on Thursday, February 15th. The specialty retailer reported $2.26 EPS for the quarter, beating the consensus estimate of $2.20 by $0.06. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The company had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.64 billion. During the same period last year, the firm earned $2.05 EPS. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, sell-side analysts forecast that Genuine Parts will post 9.76 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 2.76%. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date was Thursday, February 29th. Genuine Parts’s payout ratio is presently 42.87%.

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.