Cerity Partners LLC Has $12.91 Million Stock Position in Genuine Parts Company (NYSE:GPC)

Cerity Partners LLC cut its stake in Genuine Parts Company (NYSE:GPC - Free Report) by 12.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,394 shares of the specialty retailer's stock after selling 15,631 shares during the period. Cerity Partners LLC owned approximately 0.08% of Genuine Parts worth $12,914,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Hunter Associates Investment Management LLC raised its stake in shares of Genuine Parts by 22.5% in the 1st quarter. Hunter Associates Investment Management LLC now owns 19,150 shares of the specialty retailer's stock worth $2,280,000 after buying an additional 3,517 shares in the last quarter. Telos Capital Management Inc. grew its holdings in Genuine Parts by 1.8% during the first quarter. Telos Capital Management Inc. now owns 40,895 shares of the specialty retailer's stock worth $4,872,000 after acquiring an additional 713 shares during the period. Allworth Financial LP raised its position in Genuine Parts by 7.3% in the first quarter. Allworth Financial LP now owns 3,641 shares of the specialty retailer's stock worth $426,000 after acquiring an additional 247 shares in the last quarter. Parr Mcknight Wealth Management Group LLC lifted its holdings in Genuine Parts by 153.0% in the 1st quarter. Parr Mcknight Wealth Management Group LLC now owns 10,020 shares of the specialty retailer's stock valued at $1,194,000 after acquiring an additional 6,060 shares during the last quarter. Finally, Axxcess Wealth Management LLC bought a new position in shares of Genuine Parts during the 1st quarter valued at about $289,000. Institutional investors and hedge funds own 78.83% of the company's stock.

Genuine Parts Stock Down 0.1%

NYSE:GPC traded down $0.14 during trading hours on Monday, hitting $124.40. 1,106,850 shares of the stock traded hands, compared to its average volume of 1,437,041. The firm has a 50 day moving average price of $123.67 and a 200 day moving average price of $120.42. The firm has a market cap of $17.27 billion, a price-to-earnings ratio of 20.43 and a beta of 0.74. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $149.22. The company has a current ratio of 1.15, a quick ratio of 0.52 and a debt-to-equity ratio of 0.85.

Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.09. Genuine Parts had a net margin of 3.60% and a return on equity of 23.71%. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.83 billion. Equities research analysts anticipate that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Friday, June 6th were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date was Friday, June 6th. Genuine Parts's payout ratio is 67.65%.

Wall Street Analysts Forecast Growth

GPC has been the topic of a number of research reports. The Goldman Sachs Group reiterated a "sell" rating and issued a $114.00 target price (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Argus raised Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. Wall Street Zen lowered Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Evercore ISI decreased their target price on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Finally, Truist Financial upped their target price on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $130.86.

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.