Silver Lake Advisory LLC Has $4.05 Million Stock Holdings in Genuine Parts (NYSE:GPC)

Silver Lake Advisory LLC lifted its holdings in shares of Genuine Parts (NYSE:GPC) by 15.4% in the 4th quarter, HoldingsChannel reports. The fund owned 29,243 shares of the specialty retailer’s stock after purchasing an additional 3,911 shares during the period. Genuine Parts makes up approximately 2.3% of Silver Lake Advisory LLC’s investment portfolio, making the stock its 21st biggest holding. Silver Lake Advisory LLC’s holdings in Genuine Parts were worth $4,050,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in Genuine Parts during the 3rd quarter worth approximately $25,000. Milestone Investment Advisors LLC bought a new stake in shares of Genuine Parts in the 3rd quarter worth $28,000. Briaud Financial Planning Inc purchased a new position in Genuine Parts during the third quarter worth about $28,000. Authentikos Wealth Advisory LLC bought a new stake in Genuine Parts in the 3rd quarter worth about $40,000. Finally, Orion Capital Management LLC bought a new position in shares of Genuine Parts during the 3rd quarter worth approximately $42,000. Institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GPC shares. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Truist Financial raised their target price on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Wedbush reissued a “neutral” rating and issued a $170.00 price target (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Jefferies Financial Group raised their price objective on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Finally, Evercore ISI dropped their target price on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. Six 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 stock currently has an average rating of “Hold” and an average target price of $173.10.

Genuine Parts Stock Performance

NYSE GPC traded down $0.29 during trading hours on Thursday, hitting $156.48. 166,483 shares of the company’s stock traded hands, compared to its average volume of 1,061,014. The business’s fifty day moving average price is $153.00 and its two-hundred day moving average price is $143.18. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $174.91. The company has a current ratio of 1.14, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $21.80 billion, a P/E ratio of 17.48 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.07. The business had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.14 EPS. Equities research analysts predict that Genuine Parts will post 9.89 EPS for the current year.

Genuine Parts Dividend Announcement

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

Insider Buying and Selling

In other news, Director Wendy B. Needham sold 3,250 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the transaction, the director now directly 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 available at this hyperlink. 0.37% of the stock is currently owned by insiders.

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.