Analysis of Hedge Fund Portfolio Changes in Genuine Parts (GPC)
Genuine Parts Company is an American distributor of automotive replacement parts, as well as industrial parts and materials. The company operates in two segments: Automotive Parts Group and Industrial Parts Group segments. Its primary customers include automotive repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.
Several hedge funds have recently made changes to their portfolio holdings in Genuine Parts, with some firms increasing their stakes in the company while others have reduced their positions. Twin Capital Management Inc., for example, cut its holdings in Genuine Parts by 4.7% during the fourth quarter, selling 442 shares of the company’s stock.
- Other hedge funds, including Hartford Financial Management Inc., New York Life Investment Management LLC, Grimes & Company Inc., Pinnacle Financial Partners Inc., and Envestnet Portfolio Solutions Inc., have also made changes to their portfolio holdings in Genuine Parts.
- These hedge funds have collectively increased their stakes in the company, with Hartford Financial Management Inc. lifting its position by 0.5%, New York Life Investment Management LLC raising its stake by 0.6%, Grimes & Company Inc. increasing its holdings by 3.3%, Pinnacle Financial Partners Inc. boosting its stake by 2.5%, and Envestnet Portfolio Solutions Inc. growing its holdings by 1.7%.
| Company | Change in Holdings | Percentage Change | Value of Holdings |
|---|---|---|---|
| Twin Capital Management Inc. | -442 shares | -4.7% | $1,049,000 |
| Hartford Financial Management Inc. | +99 shares | +0.5% | $2,185,000 |
| New York Life Investment Management LLC | +108 shares | +0.6% | $2,188,000 |
| Grimes & Company Inc. | +111 shares | +3.3% | $408,000 |
| Pinnacle Financial Partners Inc. | +115 shares | +2.5% | $541,000 |
| Envestnet Portfolio Solutions Inc. | +128 shares | +1.7% | $877,000 |
Genuine Parts has recently announced its quarterly earnings results, with the company reporting a net margin of 3.85% and a return on equity of 25.28%. The company also declared a quarterly dividend, which was paid on Wednesday, April 2nd, with a dividend yield of 3.73%.
“The company’s strong financial performance and dividend yield make it an attractive investment opportunity for many investors.” – Northcoast Research
Several equities analysts have recently weighed in on the stock, with some firms downgrading Genuine Parts from a “buy” rating to a “neutral” rating, while others have maintained their “buy” ratings. For example, Evercore ISI raised Genuine Parts from an “in-line” rating to an “outperform” rating, while Truist Financial upped their price objective on shares of Genuine Parts from $129.00 to $133.00.
According to data from MarketBeat, Genuine Parts currently has an average rating of “Hold” and an average price target of $135.88. The company’s market capitalization is $15.32 billion, with a price-to-earnings ratio of 17.06 and a beta of 0.82.
Overall, the analysis of hedge fund portfolio changes in Genuine Parts suggests that the company remains a popular investment opportunity among hedge funds. However, it’s essential to conduct thorough research and analysis before making any investment decisions.
As a leading distributor of automotive replacement parts and industrial parts and materials, Genuine Parts is well-positioned to benefit from the growing demand for these products in various industries. The company’s strong financial performance and dividend yield make it an attractive investment opportunity for many investors.
