Gabelli Funds LLC Sells 10,300 Shares of Genuine Parts (NYSE:GPC)

Gabelli Funds LLC decreased its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 1.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 858,300 shares of the specialty retailer's stock after selling 10,300 shares during the period. Genuine Parts accounts for about 0.8% of Gabelli Funds LLC's portfolio, making the stock its 23rd largest holding. Gabelli Funds LLC owned 0.62% of Genuine Parts worth $100,215,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of GPC. Millstone Evans Group LLC bought a new position in Genuine Parts in the 4th quarter valued at about $25,000. Kestra Investment Management LLC acquired a new stake in Genuine Parts during the 4th quarter worth approximately $28,000. First Command Advisory Services Inc. acquired a new position in shares of Genuine Parts during the fourth quarter worth $28,000. Compass Planning Associates Inc bought a new stake in shares of Genuine Parts in the 4th quarter valued at about $29,000. Finally, Synergy Asset Management LLC bought a new stake in Genuine Parts in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 78.83% of the company's stock.

Analyst Upgrades and Downgrades

GPC has been the subject of a number of analyst reports. Northcoast Research downgraded shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. StockNews.com raised Genuine Parts from a "hold" rating to a "buy" rating in a research report on Friday. The Goldman Sachs Group reaffirmed a "sell" rating and set a $114.00 target price (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Loop Capital began coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a "buy" rating and a $155.00 price target on the stock. Finally, Evercore ISI raised shares of Genuine Parts from an "in-line" rating to an "outperform" rating and raised their price objective for the stock from $128.00 to $135.00 in a research report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $131.00.

Genuine Parts Stock Up 1.6 %

Shares of NYSE:GPC traded up $1.85 during trading on Friday, reaching $114.02. 1,632,737 shares of the stock were exchanged, compared to its average volume of 1,235,831. The stock has a fifty day moving average of $119.81 and a two-hundred day moving average of $121.32. Genuine Parts has a 1-year low of $104.01 and a 1-year high of $163.86. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The firm has a market cap of $15.82 billion, a price-to-earnings ratio of 17.62 and a beta of 0.82.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.07. The firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same period last year, the firm earned $2.26 earnings per share. Research analysts anticipate that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th were issued a dividend of $1.03 per share. This is a positive change from Genuine Parts's previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend was Friday, March 7th. Genuine Parts's payout ratio is currently 63.68%.

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.