AQR Capital Management LLC Reduces Stock Position in Genuine Parts (NYSE:GPC)

AQR Capital Management LLC reduced its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 74.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,285 shares of the specialty retailer's stock after selling 151,831 shares during the period. AQR Capital Management LLC's holdings in Genuine Parts were worth $5,988,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GPC. Franklin Resources Inc. boosted its holdings in shares of Genuine Parts by 22.8% during the 3rd quarter. Franklin Resources Inc. now owns 221,936 shares of the specialty retailer's stock worth $30,947,000 after purchasing an additional 41,262 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Genuine Parts by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 183,533 shares of the specialty retailer's stock valued at $25,636,000 after buying an additional 6,358 shares during the period. JPMorgan Chase & Co. raised its position in shares of Genuine Parts by 6.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer's stock valued at $257,124,000 after buying an additional 114,180 shares during the period. Nordea Investment Management AB raised its position in shares of Genuine Parts by 6.5% during the 4th quarter. Nordea Investment Management AB now owns 10,375 shares of the specialty retailer's stock valued at $1,214,000 after buying an additional 629 shares during the period. Finally, CWA Asset Management Group LLC increased its stake in Genuine Parts by 40.5% during the fourth quarter. CWA Asset Management Group LLC now owns 2,206 shares of the specialty retailer's stock worth $258,000 after acquiring an additional 636 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on GPC. Loop Capital began coverage on Genuine Parts in a research note on Thursday, January 16th. They set a "buy" rating and a $155.00 target price for the company. Northcoast Research cut Genuine Parts from a "buy" rating to a "neutral" rating in a research note on Friday, January 17th. Truist Financial raised their target price on Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Argus raised Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Evercore ISI cut their target price on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $130.86.

Genuine Parts Trading Up 0.4%

NYSE GPC traded up $0.46 on Tuesday, reaching $122.45. The stock had a trading volume of 177,670 shares, compared to its average volume of 1,248,725. The firm has a market capitalization of $16.99 billion, a price-to-earnings ratio of 18.93 and a beta of 0.76. The company has a quick ratio of 0.57, a current ratio of 1.16 and a debt-to-equity ratio of 0.86. Genuine Parts has a 12-month low of $104.01 and a 12-month high of $158.65. The stock has a fifty day moving average price of $117.91 and a two-hundred day moving average price of $119.52.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.09. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. As a group, sell-side analysts forecast that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a yield of 3.36%. Genuine Parts's dividend payout ratio (DPR) is presently 67.65%.

Genuine Parts 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.