Rockline Wealth Management LLC Has $3.29 Million Stake in Genuine Parts Company (NYSE:GPC)

Rockline Wealth Management LLC increased its stake in shares of Genuine Parts Company (NYSE:GPC) by 4.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 27,595 shares of the specialty retailer’s stock after acquiring an additional 1,140 shares during the period. Rockline Wealth Management LLC’s holdings in Genuine Parts were worth $3,288,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Millstone Evans Group LLC acquired a new position in shares of Genuine Parts during the 4th quarter valued at about $25,000. Kestra Investment Management LLC acquired a new position in shares of Genuine Parts during the 4th quarter valued at about $28,000. First Command Advisory Services Inc. acquired a new position in shares of Genuine Parts during the 4th quarter valued at about $28,000. Compass Planning Associates Inc acquired a new position in shares of Genuine Parts during the 4th quarter valued at about $29,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Genuine Parts during the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $119.63 on Friday. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $149.22. The firm has a market capitalization of $16.60 billion, a PE ratio of 19.64 and a beta of 0.76. The business’s 50 day moving average is $121.28 and its 200-day moving average is $120.03. The company has a current ratio of 1.15, a quick ratio of 0.52 and a debt-to-equity ratio of 0.85.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.09. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. Sell-side analysts predict that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Friday, June 6th. Genuine Parts’s payout ratio is presently 67.65%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GPC. Evercore ISI lowered their target price on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Argus raised Genuine Parts to a “strong-buy” rating in a report on Friday, April 25th. Truist Financial raised their target price on Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Finally, Wall Street Zen lowered Genuine Parts from a “buy” rating to a “hold” rating in a report on Saturday, April 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $130.86.

Genuine Parts 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.