IFM Investors Pty Ltd Buys 1,144 Shares of Genuine Parts (NYSE:GPC)

IFM Investors Pty Ltd increased its stake in shares of Genuine Parts (NYSE:GPC) by 4.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 29,902 shares of the specialty retailer’s stock after purchasing an additional 1,144 shares during the quarter. IFM Investors Pty Ltd’s holdings in Genuine Parts were worth $4,177,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GPC. Wulff Hansen & CO. raised its stake in shares of Genuine Parts by 13,732.0% in the second quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock valued at $216,675,000 after acquiring an additional 1,555,149 shares during the period. International Assets Investment Management LLC grew its holdings in Genuine Parts by 14,222.1% during the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after purchasing an additional 580,262 shares during the last quarter. DAVENPORT & Co LLC raised its position in Genuine Parts by 3,029.9% in the 1st quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock worth $58,999,000 after purchasing an additional 368,470 shares during the period. Natixis lifted its stake in Genuine Parts by 768.4% in the first quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock worth $49,014,000 after purchasing an additional 279,930 shares during the last quarter. Finally, Anchor Capital Advisors LLC boosted its position in shares of Genuine Parts by 1,457.3% during the first quarter. Anchor Capital Advisors LLC now owns 269,961 shares of the specialty retailer’s stock valued at $41,825,000 after buying an additional 252,626 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Up 1.0 %

Shares of NYSE GPC opened at $114.24 on Friday. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The stock’s fifty day simple moving average is $137.22 and its two-hundred day simple moving average is $142.12. The stock has a market capitalization of $15.92 billion, a PE ratio of 14.70 and a beta of 0.90. The company has a current ratio of 1.17, a quick ratio of 0.54 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. Genuine Parts’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.49 EPS. As a group, analysts expect that Genuine Parts will post 8.1 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.50%. Genuine Parts’s payout ratio is 51.48%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GPC shares. Truist Financial reduced their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. UBS Group decreased their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday. Wedbush reduced their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group lowered their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $139.57.

About Genuine Parts

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.