Genuine Parts (NYSE:GPC) Position Lessened by Quantbot Technologies LP

Quantbot Technologies LP lowered its position in shares of Genuine Parts (NYSE:GPC) by 63.2% in the 4th quarter, Holdings Channel reports. The fund 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 SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new stake in Genuine Parts in the fourth quarter worth about $25,000. Kestra Investment Management LLC acquired a new position in Genuine Parts in the fourth quarter worth approximately $28,000. First Command Advisory Services Inc. bought a new position in shares of Genuine Parts in the fourth quarter valued at $28,000. Compass Planning Associates Inc acquired a new stake in shares of Genuine Parts during the fourth quarter worth $29,000. Finally, Synergy Asset Management LLC acquired a new stake in Genuine Parts during the 4th quarter worth about $32,000. Institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Truist Financial raised their target price on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Northcoast Research downgraded 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 Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective on the stock. Finally, Evercore ISI decreased their price objective on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Eight research 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 company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $137.63.

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $120.80 on Tuesday. The firm has a fifty day moving average of $121.07 and a two-hundred day moving average of $124.47. 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 market capitalization of $16.77 billion, a price-to-earnings ratio of 18.67 and a beta of 0.93. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The business had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter in the prior year, the company posted $2.26 earnings per share. As a group, equities research analysts predict that Genuine Parts will post 7.9 EPS for the current 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 paid a dividend of $1.03 per share. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. This represents a $4.12 annualized dividend and a yield of 3.41%. Genuine Parts’s dividend payout ratio (DPR) is presently 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.