IFM Investors Pty Ltd Acquires 1,144 Shares of Genuine Parts (NYSE:GPC)

IFM Investors Pty Ltd grew its holdings in Genuine Parts (NYSE:GPC) by 4.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,902 shares of the specialty retailer’s stock after acquiring an additional 1,144 shares during the period. IFM Investors Pty Ltd’s holdings in Genuine Parts were worth $4,177,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Manchester Capital Management LLC raised its holdings in Genuine Parts by 36.1% in the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 66 shares during the period. North Star Investment Management Corp. lifted its position in shares of Genuine Parts by 8.5% during the 1st quarter. North Star Investment Management Corp. now owns 890 shares of the specialty retailer’s stock valued at $138,000 after buying an additional 70 shares in the last quarter. First Citizens Bank & Trust Co. grew its stake in shares of Genuine Parts by 4.9% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock valued at $224,000 after acquiring an additional 75 shares during the period. HBK Sorce Advisory LLC increased its holdings in Genuine Parts by 1.8% in the 1st quarter. HBK Sorce Advisory LLC now owns 4,437 shares of the specialty retailer’s stock worth $689,000 after acquiring an additional 80 shares in the last quarter. Finally, Dover Advisors LLC raised its stake in Genuine Parts by 5.1% during the 2nd quarter. Dover Advisors LLC now owns 1,756 shares of the specialty retailer’s stock worth $243,000 after acquiring an additional 85 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Up 1.0 %

Shares of GPC stock opened at $114.24 on Friday. The stock’s 50-day moving average price is $137.22 and its 200-day moving average price is $142.12. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The stock has a market capitalization of $15.92 billion, a price-to-earnings ratio of 14.70 and a beta of 0.90. The company has a current ratio of 1.17, a quick ratio of 0.54 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.49 EPS. Equities research analysts predict that Genuine Parts will post 8.1 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a $1.00 dividend. The ex-dividend date was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.50%. Genuine Parts’s payout ratio is currently 51.48%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Truist Financial dropped their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday. The Goldman Sachs Group cut their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group cut 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. Finally, Evercore ISI boosted their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Genuine Parts has a consensus rating of “Hold” and an average target price of $139.57.

About Genuine Parts

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.