Intech Investment Management LLC Trims Holdings in Genuine Parts (NYSE:GPC)

Intech Investment Management LLC trimmed its holdings in Genuine Parts (NYSE:GPC - Free Report) by 43.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,810 shares of the specialty retailer's stock after selling 32,349 shares during the quarter. Intech Investment Management LLC's holdings in Genuine Parts were worth $5,840,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in GPC. Ashton Thomas Securities LLC acquired a new position in shares of Genuine Parts in the 3rd quarter valued at $26,000. Capital Performance Advisors LLP purchased a new stake in Genuine Parts in the third quarter valued at $31,000. Concord Wealth Partners boosted its stake in Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer's stock valued at $38,000 after acquiring an additional 119 shares in the last quarter. Triad Wealth Partners LLC purchased a new position in shares of Genuine Parts during the second quarter worth about $40,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Genuine Parts during the third quarter worth about $44,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Stock Up 1.7 %

GPC stock opened at $124.78 on Friday. Genuine Parts has a 52 week low of $112.74 and a 52 week 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. The company has a market cap of $17.35 billion, a P/E ratio of 16.06 and a beta of 0.92. The company's 50-day moving average price is $129.44 and its 200 day moving average price is $137.38.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings results 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 return on equity of 27.23% and a net margin of 4.67%. The firm had revenue of $6 billion for the quarter, compared to analysts' expectations of $5.94 billion. During the same period last year, the firm earned $2.49 EPS. Genuine Parts's revenue was up 3.0% compared to the same quarter last year. On average, research analysts expect that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.21%. Genuine Parts's dividend payout ratio (DPR) is currently 51.48%.

Analyst Ratings Changes

A number of analysts recently issued reports on GPC shares. UBS Group decreased their target price on Genuine Parts from $145.00 to $125.00 and set a "neutral" rating for the company in a research report on Wednesday, October 23rd. Evercore ISI increased their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an "in-line" rating in a report on Tuesday, October 22nd. StockNews.com lowered shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Wednesday, October 16th. Redburn Atlantic raised shares of Genuine Parts to a "hold" rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. cut their price target on Genuine Parts from $162.00 to $135.00 and set an "overweight" rating for the company in a research note on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $139.57.

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.