Mechanics Financial Corp Boosts Holdings in Genuine Parts (NYSE:GPC)

Mechanics Financial Corp raised its stake in shares of Genuine Parts (NYSE:GPC) by 3.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,634 shares of the specialty retailer’s stock after buying an additional 90 shares during the period. Mechanics Financial Corp’s holdings in Genuine Parts were worth $365,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. OFI Invest Asset Management purchased a new position in Genuine Parts during the third quarter valued at approximately $25,000. Briaud Financial Planning Inc purchased a new position in shares of Genuine Parts during the 3rd quarter valued at approximately $28,000. Milestone Investment Advisors LLC acquired a new position in shares of Genuine Parts in the 3rd quarter valued at $28,000. Authentikos Wealth Advisory LLC purchased a new stake in Genuine Parts during the third quarter worth $40,000. Finally, Orion Capital Management LLC acquired a new stake in Genuine Parts during the third quarter valued at $42,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Truist Financial increased their target price on shares of Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Evercore ISI dropped their price objective on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Jefferies Financial Group upped their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Finally, Wedbush restated a “neutral” rating and set a $170.00 price objective (up from $140.00) on shares of Genuine Parts in a research report on Friday, April 19th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $173.10.

Genuine Parts Price Performance

Shares of Genuine Parts stock traded down $0.44 during trading hours on Thursday, reaching $156.33. 150,495 shares of the company’s stock were exchanged, compared to its average volume of 1,060,882. The business has a fifty day moving average of $153.00 and a two-hundred day moving average of $143.18. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $21.78 billion, a P/E ratio of 17.48 and a beta of 0.94. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $174.91.

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, research analysts predict that Genuine Parts will post 9.89 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a yield of 2.56%. Genuine Parts’s payout ratio is 44.59%.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the transaction, the director now owns 14,397 shares in the company, valued at approximately $2,230,383.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Genuine Parts 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.