Genuine Parts (NYSE:GPC) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Genuine Parts (NYSE:GPC) by 0.9% in the fourth quarter, HoldingsChannel reports. The firm owned 90,532 shares of the specialty retailer’s stock after buying an additional 813 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Genuine Parts were worth $12,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Amalgamated Bank raised its position in shares of Genuine Parts by 10.7% in the third quarter. Amalgamated Bank now owns 41,734 shares of the specialty retailer’s stock worth $6,026,000 after acquiring an additional 4,047 shares during the period. Conning Inc. raised its position in shares of Genuine Parts by 5.9% in the fourth quarter. Conning Inc. now owns 227,942 shares of the specialty retailer’s stock worth $31,501,000 after acquiring an additional 12,634 shares during the period. Teza Capital Management LLC acquired a new position in shares of Genuine Parts in the third quarter worth about $1,593,000. LPL Financial LLC raised its position in shares of 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 acquiring an additional 18,522 shares during the period. Finally, Schwartz Investment Counsel Inc. raised its position in shares of 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 acquiring an additional 50,000 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the sale, the director now owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.37% of the stock is owned by corporate insiders.

Genuine Parts Stock Up 1.3 %

Shares of NYSE GPC opened at $162.39 on Friday. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $174.91. The stock has a market cap of $22.64 billion, a PE ratio of 18.10 and a beta of 0.94. The company has a current ratio of 1.14, a quick ratio of 0.63 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average of $150.30 and a 200 day moving average of $142.34.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the prior year, the company earned $2.14 EPS. Genuine Parts’s revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts predict that Genuine Parts will post 9.85 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. Genuine Parts’s dividend payout ratio is currently 44.59%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GPC shares. Jefferies Financial Group upped their price objective on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Truist Financial upped their price objective on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday. Wedbush restated a “neutral” rating and set a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a research report on Friday. Finally, Evercore ISI reduced their price target on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $173.10.

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.