Intech Investment Management LLC Decreases Stake in Genuine Parts (NYSE:GPC)

Intech Investment Management LLC trimmed its position in shares of Genuine Parts (NYSE:GPC - Free Report) by 64.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,788 shares of the specialty retailer's stock after selling 27,022 shares during the period. Intech Investment Management LLC's holdings in Genuine Parts were worth $1,727,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Equity Investment Corp bought a new stake in shares of Genuine Parts during the 4th quarter worth approximately $84,128,000. Raymond James Financial Inc. bought a new stake in shares of Genuine Parts during the fourth quarter worth $57,407,000. State Street Corp boosted its stake in shares of 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 purchasing an additional 401,180 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of 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 last quarter. Finally, Synovus Financial Corp increased its stake in Genuine Parts by 95.4% in the 3rd quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer's stock worth $54,708,000 after buying an additional 191,272 shares during the period. Institutional investors own 78.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GPC. Northcoast Research downgraded shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Evercore ISI lowered their target price on Genuine Parts from $128.00 to $125.00 and set an "in-line" rating for the company in a report on Wednesday, February 19th. Loop Capital initiated coverage on Genuine Parts in a research note on Thursday, January 16th. They set a "buy" rating and a $155.00 price target on the stock. Finally, Truist Financial upped their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th. Eight 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 stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $137.63.

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Genuine Parts Stock Up 0.4 %

GPC traded up $0.43 on Wednesday, hitting $118.32. The company had a trading volume of 2,176,573 shares, compared to its average volume of 1,609,427. The stock has a market capitalization of $16.42 billion, a price-to-earnings ratio of 18.29 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. The stock has a fifty day moving average price of $121.09 and a 200-day moving average price of $124.35. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping the consensus estimate of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The firm had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.71 billion. During the same quarter in the previous year, the business posted $2.26 EPS. Analysts predict that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Friday, March 7th. This is a positive change from Genuine Parts's previous quarterly dividend of $1.00. Genuine Parts's dividend payout ratio is currently 63.68%.

Genuine Parts Company 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.