Rhumbline Advisers Has $28.50 Million Position in Genuine Parts (NYSE:GPC)

Rhumbline Advisers reduced its position in Genuine Parts (NYSE:GPC - Free Report) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 244,074 shares of the specialty retailer's stock after selling 8,369 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of Genuine Parts worth $28,498,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GPC. International Assets Investment Management LLC lifted its position in Genuine Parts by 14,222.1% in the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer's stock worth $81,621,000 after purchasing an additional 580,262 shares during the period. State Street Corp lifted its position in Genuine Parts by 5.4% in the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer's stock worth $1,103,300,000 after purchasing an additional 401,180 shares during the period. Boston Trust Walden Corp bought a new position in Genuine Parts in the third quarter worth $39,474,000. Caisse DE Depot ET Placement DU Quebec lifted its position in Genuine Parts by 1,038.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer's stock worth $38,803,000 after purchasing an additional 253,400 shares during the period. Finally, Synovus Financial Corp lifted its position in Genuine Parts by 95.4% in the third quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer's stock worth $54,708,000 after purchasing an additional 191,272 shares during the period. 78.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on GPC shares. Loop Capital started coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a "buy" rating and a $155.00 target price for the company. Redburn Atlantic raised Genuine Parts to a "hold" rating in a report on Monday, November 11th. Truist Financial lifted their price objective on Genuine Parts from $129.00 to $133.00 and gave the company a "buy" rating in a report on Wednesday. Northcoast Research cut Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. Finally, Evercore ISI cut their price objective on Genuine Parts from $128.00 to $125.00 and set an "in-line" rating for the company in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $137.63.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the sale, the director now directly owns 11,357 shares in the company, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.37% of the company's stock.

Genuine Parts Price Performance

Shares of NYSE:GPC traded down $1.03 during midday trading on Friday, reaching $122.25. The company's stock had a trading volume of 582,971 shares, compared to its average volume of 1,589,732. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a market capitalization of $17.00 billion, a P/E ratio of 18.89 and a beta of 0.94. 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 business's fifty day simple moving average is $118.28 and its 200-day simple moving average is $127.27.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its earnings results 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 company had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. During the same period last year, the company posted $2.26 earnings per share. As a group, equities research analysts expect that Genuine Parts will post 7.91 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.37%. This is a positive change from Genuine Parts's previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Friday, March 7th. Genuine Parts's dividend payout ratio (DPR) is presently 61.82%.

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.