Signaturefd LLC Grows Stock Holdings in Genuine Parts (NYSE:GPC)

Posted by Defense World Staff on Apr 13th, 2023

Signaturefd LLC increased its stake in shares of Genuine Parts (NYSE:GPC – Get Rating) by 14.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,161 shares of the specialty retailer’s stock after purchasing an additional 520 shares during the period. Signaturefd LLC’s holdings in Genuine Parts were worth $722,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in GPC. WD Rutherford LLC bought a new stake in Genuine Parts during the third quarter valued at approximately $25,000. Dupont Capital Management Corp grew its position in Genuine Parts by 128.0% during the third quarter. Dupont Capital Management Corp now owns 171 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 96 shares during the period. BDO Wealth Advisors LLC grew its position in Genuine Parts by 113.2% during the third quarter. BDO Wealth Advisors LLC now owns 226 shares of the specialty retailer’s stock valued at $34,000 after buying an additional 120 shares during the period. Armstrong Advisory Group Inc. bought a new stake in Genuine Parts during the fourth quarter valued at approximately $40,000. Finally, Boyd Watterson Asset Management LLC OH bought a new stake in Genuine Parts during the fourth quarter valued at approximately $46,000. 78.14% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Performance

GPC opened at $166.62 on Thursday. The firm has a market cap of $23.46 billion, a P/E ratio of 20.05, a PEG ratio of 1.81 and a beta of 0.89. Genuine Parts has a 1-year low of $125.55 and a 1-year high of $187.73. The company has a 50 day simple moving average of $168.56 and a two-hundred day simple moving average of $170.34. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.15 and a quick ratio of 0.57.

Genuine Parts (NYSE:GPC – Get Rating) last posted its quarterly earnings results on Thursday, February 23rd. The specialty retailer reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.15. Genuine Parts had a net margin of 5.35% and a return on equity of 32.22%. The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same period in the prior year, the business posted $1.79 earnings per share. The company’s revenue was up 15.0% on a year-over-year basis. Equities analysts forecast that Genuine Parts will post 8.93 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Friday, March 3rd were given a dividend of $0.95 per share. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, March 2nd. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.28%. Genuine Parts’s dividend payout ratio is currently 45.73%.

Insider Buying and Selling

In related news, CEO Paul D. Donahue bought 1,600 shares of the company’s stock in a transaction that occurred on Friday, March 24th. The stock was purchased at an average price of $156.08 per share, for a total transaction of $249,728.00. Following the completion of the transaction, the chief executive officer now owns 59,727 shares in the company, valued at $9,322,190.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Truist Financial upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $186.00 target price for the company in a research report on Friday, March 24th. The Goldman Sachs Group upped their price target on shares of Genuine Parts from $147.00 to $157.00 and gave the stock a “sell” rating in a research report on Thursday, February 23rd. StockNews.com began coverage on shares of Genuine Parts in a research report on Thursday, March 16th. They issued a “buy” rating for the company. Finally, Wedbush reiterated a “neutral” rating on shares of Genuine Parts in a research report on Friday, February 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $152.20.

Genuine Parts Company Profile

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Genuine Parts Co engages in the distribution of automotive and industrial replacement parts. It operates through the following segments: Automotive Parts Group, Industrial Parts Group, and Corporate. The Automotive Parts Group segment distributes replacement parts, other than body parts for substantially all makes and models of automobiles, trucks, and other vehicles.