Argyle Capital Management Inc. Has $3.87 Million Stock Holdings in Genuine Parts (NYSE:GPC)

Argyle Capital Management Inc. trimmed its position in shares of Genuine Parts (NYSE:GPC) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,916 shares of the specialty retailer’s stock after selling 175 shares during the quarter. Genuine Parts makes up 1.6% of Argyle Capital Management Inc.’s holdings, making the stock its 16th biggest holding. Argyle Capital Management Inc.’s holdings in Genuine Parts were worth $3,866,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. OFI Invest Asset Management bought a new position in shares of Genuine Parts during the third quarter worth about $25,000. Briaud Financial Planning Inc bought a new position in shares of Genuine Parts during the third quarter worth about $28,000. Milestone Investment Advisors LLC bought a new position in shares of Genuine Parts during the third quarter worth about $28,000. Authentikos Wealth Advisory LLC bought a new stake in Genuine Parts in the third quarter worth approximately $40,000. Finally, Orion Capital Management LLC bought a new stake in Genuine Parts in the third quarter worth approximately $42,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Down 0.7 %

Shares of NYSE GPC traded down $1.14 during midday trading on Friday, hitting $159.93. 1,003,681 shares of the stock traded hands, compared to its average volume of 1,198,481. The company has a market cap of $22.28 billion, a PE ratio of 17.83 and a beta of 0.94. Genuine Parts has a one year low of $126.35 and a one year high of $174.91. The business has a 50 day moving average price of $152.13 and a two-hundred day moving average price of $142.92. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 1.14.

Genuine Parts (NYSE:GPC) last announced its earnings results 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. The company had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. Genuine Parts’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.14 earnings per share. On average, equities analysts predict that Genuine Parts will post 9.89 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were given a dividend of $1.00 per share. This is a boost from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $4.00 annualized dividend and a dividend yield of 2.50%. Genuine Parts’s payout ratio is presently 44.59%.

Insider Activity at Genuine Parts

In other Genuine Parts 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 transaction, the director now owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GPC. Jefferies Financial Group lifted their target price on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Truist Financial lifted their target price on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Evercore ISI lowered their target price on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a report on Tuesday, April 16th. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Finally, Wedbush restated a “neutral” rating and set a $170.00 price objective (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $173.10.

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.