Genuine Parts (NYSE:GPC) Shares Purchased by Truist Financial Corp

Truist Financial Corp raised its holdings in shares of Genuine Parts (NYSE:GPCGet Rating) by 1.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,671,536 shares of the specialty retailer’s stock after buying an additional 31,593 shares during the period. Truist Financial Corp owned about 1.18% of Genuine Parts worth $210,647,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GPC. UMB Bank N A MO lifted its position in shares of Genuine Parts by 2.9% during the first quarter. UMB Bank N A MO now owns 51,826 shares of the specialty retailer’s stock worth $6,531,000 after purchasing an additional 1,475 shares in the last quarter. Wright Investors Service Inc. lifted its position in shares of Genuine Parts by 1.8% during the first quarter. Wright Investors Service Inc. now owns 16,903 shares of the specialty retailer’s stock worth $2,130,000 after purchasing an additional 302 shares in the last quarter. CVA Family Office LLC lifted its position in shares of Genuine Parts by 13.3% during the first quarter. CVA Family Office LLC now owns 897 shares of the specialty retailer’s stock worth $113,000 after purchasing an additional 105 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Genuine Parts by 1.1% during the first quarter. Louisiana State Employees Retirement System now owns 9,000 shares of the specialty retailer’s stock worth $1,239,000 after purchasing an additional 100 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. acquired a new position in shares of Genuine Parts during the first quarter worth $490,000. 76.92% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms recently issued reports on GPC. Evercore ISI cut their price target on shares of Genuine Parts to $135.00 in a report on Thursday, June 9th. Bank of America raised shares of Genuine Parts from an “underperform” rating to a “neutral” rating and set a $133.00 price target on the stock in a report on Tuesday, May 10th. They noted that the move was a valuation call. Finally, StockNews.com began coverage on shares of Genuine Parts in a report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and a consensus price target of $137.75.

GPC stock opened at $133.35 on Tuesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.16 and a quick ratio of 0.58. Genuine Parts has a 1-year low of $115.63 and a 1-year high of $142.97. The firm has a fifty day moving average price of $133.63 and a two-hundred day moving average price of $131.67. The firm has a market cap of $18.88 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 3.05 and a beta of 0.95.

Genuine Parts (NYSE:GPCGet Rating) last released its quarterly earnings results on Thursday, April 21st. The specialty retailer reported $1.86 EPS for the quarter, topping the consensus estimate of $1.70 by $0.16. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.08 billion. Genuine Parts had a net margin of 4.71% and a return on equity of 30.84%. The company’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.50 earnings per share. As a group, analysts expect that Genuine Parts will post 7.85 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Friday, June 3rd were given a dividend of $0.895 per share. The ex-dividend date was Thursday, June 2nd. This represents a $3.58 annualized dividend and a dividend yield of 2.68%. Genuine Parts’s dividend payout ratio is currently 55.42%.

Genuine Parts Profile (Get Rating)

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.

Further Reading

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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