Genuine Parts (NYSE:GPC) Stock Holdings Lessened by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its stake in Genuine Parts (NYSE:GPC) by 9.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 103,931 shares of the specialty retailer’s stock after selling 11,315 shares during the quarter. New York State Common Retirement Fund owned 0.07% of Genuine Parts worth $14,394,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GPC. OFI Invest Asset Management acquired a new position in shares of Genuine Parts in the third quarter worth $25,000. Briaud Financial Planning Inc acquired a new position in Genuine Parts in the 3rd quarter worth about $28,000. Milestone Investment Advisors LLC purchased a new stake in shares of Genuine Parts during the 3rd quarter worth about $28,000. Authentikos Wealth Advisory LLC acquired a new stake in shares of Genuine Parts during the 3rd quarter valued at about $40,000. Finally, Orion Capital Management LLC bought a new stake in shares of Genuine Parts in the 3rd quarter valued at approximately $42,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $154.92, for a total transaction of $503,490.00. Following the sale, the director now directly owns 14,397 shares of the company’s stock, valued at $2,230,383.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Wedbush reiterated a “neutral” rating and issued a $170.00 target price (up from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. Truist Financial lifted their price objective 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. Jefferies Financial Group increased their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Finally, Evercore ISI decreased their price target on Genuine Parts from $160.00 to $155.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $173.10.

Genuine Parts Price Performance

NYSE GPC opened at $161.32 on Tuesday. The stock has a 50-day simple moving average of $152.49 and a 200 day simple moving average of $143.02. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $174.91. The stock has a market capitalization of $22.47 billion, a PE ratio of 17.98 and a beta of 0.94. 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 issued its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. The company had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.84 billion. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.14 earnings per share. Research analysts anticipate that Genuine Parts will post 9.89 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.48%. This is a positive change from Genuine Parts’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Thursday, February 29th. Genuine Parts’s dividend payout ratio (DPR) is currently 44.59%.

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.