Natixis Advisors L.P. Decreases Holdings in Genuine Parts (NYSE:GPC)

Natixis Advisors L.P. lowered its stake in Genuine Parts (NYSE:GPC) by 3.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,323 shares of the specialty retailer’s stock after selling 3,461 shares during the period. Natixis Advisors L.P. owned approximately 0.07% of Genuine Parts worth $13,063,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Simmons Bank grew its holdings in Genuine Parts by 8.1% during the 3rd quarter. Simmons Bank now owns 16,051 shares of the specialty retailer’s stock valued at $2,317,000 after purchasing an additional 1,208 shares during the last quarter. SeaBridge Investment Advisors LLC purchased a new stake in shares of Genuine Parts in the third quarter worth approximately $474,000. Gradient Investments LLC lifted its stake in shares of Genuine Parts by 381.1% during the 3rd quarter. Gradient Investments LLC now owns 587 shares of the specialty retailer’s stock worth $85,000 after acquiring an additional 465 shares during the last quarter. TIAA Trust National Association purchased a new position in Genuine Parts during the 3rd quarter valued at $356,000. Finally, ING Groep NV grew its position in Genuine Parts by 505.3% in the 3rd quarter. ING Groep NV now owns 79,731 shares of the specialty retailer’s stock valued at $11,512,000 after acquiring an additional 66,559 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Trading Down 1.2 %

Shares of NYSE GPC opened at $154.88 on Wednesday. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $174.91. The business has a fifty day moving average price of $153.64 and a 200 day moving average price of $143.61. The stock has a market capitalization of $21.57 billion, a P/E ratio of 17.27 and a beta of 0.94. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, beating the consensus estimate of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. During the same period in the prior year, the firm posted $2.14 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. Equities research analysts expect that Genuine Parts will post 9.94 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.58%. The ex-dividend date is Friday, June 7th. Genuine Parts’s dividend payout ratio is currently 44.59%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the firm’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 completion of the sale, the director now owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.37% of the company’s stock.

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.