Revisor Wealth Management LLC Invests $366,000 in Genuine Parts (NYSE:GPC)

Revisor Wealth Management LLC acquired a new position in Genuine Parts (NYSE:GPC) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 2,537 shares of the specialty retailer’s stock, valued at approximately $366,000.

Other hedge funds have also recently made changes to their positions in the company. Comerica Bank bought a new position in shares of Genuine Parts in the second quarter worth about $190,000. Sunbelt Securities Inc. boosted its stake in Genuine Parts by 122.2% during the second quarter. Sunbelt Securities Inc. now owns 160 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 88 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC bought a new position in Genuine Parts during the third quarter valued at approximately $25,000. OFI Invest Asset Management bought a new position in Genuine Parts during the third quarter valued at approximately $25,000. Finally, First Capital Advisors Group LLC. bought a new position in Genuine Parts during the second quarter valued at approximately $31,000. Institutional investors own 77.51% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on GPC. Wedbush reissued a “neutral” rating and set a $140.00 price target on shares of Genuine Parts in a research note on Friday, February 16th. Truist Financial increased their price target on Genuine Parts from $155.00 to $157.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $168.33.

Genuine Parts Trading Up 0.1 %

GPC stock traded up $0.14 during midday trading on Friday, reaching $150.96. 1,021,346 shares of the company traded hands, compared to its average volume of 1,174,963. Genuine Parts has a 52-week low of $126.35 and a 52-week high of $174.91. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.63 and a current ratio of 1.23. The business has a 50 day moving average of $143.07 and a 200-day moving average of $141.80. The firm has a market capitalization of $21.05 billion, a price-to-earnings ratio of 16.19, a P/E/G ratio of 2.18 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, February 15th. The specialty retailer reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.06. The firm had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.64 billion. Genuine Parts had a return on equity of 31.64% and a net margin of 5.70%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.05 earnings per share. As a group, sell-side analysts expect that Genuine Parts will post 9.78 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 1st will be given a $1.00 dividend. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date is Thursday, February 29th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.65%. Genuine Parts’s dividend payout ratio (DPR) is presently 42.87%.

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.