Gateway Investment Advisers LLC Reduces Stock Holdings in Genuine Parts (NYSE:GPC)

Gateway Investment Advisers LLC reduced its position in Genuine Parts (NYSE:GPC - Free Report) by 5.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,862 shares of the specialty retailer's stock after selling 5,933 shares during the period. Gateway Investment Advisers LLC owned approximately 0.08% of Genuine Parts worth $12,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. State Street Corp increased its holdings in Genuine Parts by 5.4% during the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer's stock valued at $1,103,300,000 after buying an additional 401,180 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Genuine Parts by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer's stock valued at $458,947,000 after acquiring an additional 32,858 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Genuine Parts by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,743,970 shares of the specialty retailer's stock worth $383,511,000 after purchasing an additional 30,354 shares in the last quarter. Stifel Financial Corp raised its holdings in Genuine Parts by 1.2% in the 3rd quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer's stock worth $287,405,000 after purchasing an additional 25,015 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Genuine Parts by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer's stock valued at $257,124,000 after purchasing an additional 114,180 shares in the last quarter. Institutional investors own 78.83% of the company's stock.

Genuine Parts Price Performance

Shares of NYSE:GPC traded down $0.99 during midday trading on Friday, reaching $118.43. 2,448,055 shares of the company were exchanged, compared to its average volume of 1,289,014. The stock has a market cap of $16.47 billion, a PE ratio of 15.24 and a beta of 0.95. The business's fifty day moving average is $120.76 and its two-hundred day moving average is $130.54. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. During the same period last year, the company earned $2.49 EPS. The firm's revenue for the quarter was up 3.0% on a year-over-year basis. As a group, analysts predict that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts's dividend payout ratio is presently 51.48%.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the transaction, the director now directly owns 11,357 shares of the company's stock, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.37% of the company's stock.

Wall Street Analysts Forecast Growth

GPC has been the subject of a number of analyst reports. Wedbush reduced their price target on Genuine Parts from $145.00 to $120.00 and set a "neutral" rating for the company in a research report on Wednesday, October 23rd. Northcoast Research lowered shares of Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday. Truist Financial decreased their target price on shares of Genuine Parts from $164.00 to $129.00 and set a "buy" rating on the stock in a research note on Wednesday, October 23rd. The Goldman Sachs Group dropped their price target on shares of Genuine Parts from $162.00 to $138.00 and set a "neutral" rating for the company in a research report on Wednesday, October 23rd. Finally, Evercore ISI raised their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an "in-line" rating in a research report on Tuesday, October 22nd. Eight investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Genuine Parts has a consensus rating of "Hold" and a consensus price target of $141.50.

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.