Quantbot Technologies LP Sells 18,556 Shares of Genuine Parts (NYSE:GPC)

Quantbot Technologies LP cut its stake in Genuine Parts (NYSE:GPC - Free Report) by 63.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,811 shares of the specialty retailer's stock after selling 18,556 shares during the period. Quantbot Technologies LP's holdings in Genuine Parts were worth $1,262,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in GPC. Millstone Evans Group LLC bought a new position in shares of Genuine Parts during the fourth quarter worth about $25,000. Lee Danner & Bass Inc. acquired a new position in shares of Genuine Parts during the 4th quarter worth about $52,000. OLD Point Trust & Financial Services N A grew its holdings in shares of Genuine Parts by 11.6% in the 4th quarter. OLD Point Trust & Financial Services N A now owns 3,860 shares of the specialty retailer's stock valued at $451,000 after acquiring an additional 400 shares in the last quarter. Blueshift Asset Management LLC increased its position in shares of Genuine Parts by 25.8% in the fourth quarter. Blueshift Asset Management LLC now owns 16,818 shares of the specialty retailer's stock valued at $1,964,000 after acquiring an additional 3,444 shares during the last quarter. Finally, Royal London Asset Management Ltd. raised its holdings in Genuine Parts by 2.4% during the fourth quarter. Royal London Asset Management Ltd. now owns 58,596 shares of the specialty retailer's stock worth $6,842,000 after acquiring an additional 1,354 shares in the last quarter. Institutional investors own 78.83% of the company's stock.

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Genuine Parts Trading Down 1.7 %

Genuine Parts stock traded down $2.07 during trading hours on Friday, reaching $118.49. 1,016,010 shares of the company's stock were exchanged, compared to its average volume of 1,213,489. The firm has a market capitalization of $16.44 billion, a PE ratio of 18.31 and a beta of 0.93. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. The firm's 50 day simple moving average is $121.13 and its 200 day simple moving average is $124.28. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.07. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate 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 in the previous year, the company posted $2.26 earnings per share. Research analysts predict that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on GPC. Evercore ISI lowered their price target on Genuine Parts from $128.00 to $125.00 and set an "in-line" rating on the stock in a research report on Wednesday, February 19th. Northcoast Research lowered shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. Loop Capital started coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a "buy" rating and a $155.00 price target for the company. Finally, Truist Financial boosted 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 research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $137.63.

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.