Illinois Municipal Retirement Fund grew its position in Genuine Parts Company (NYSE:GPC - Free Report) by 5.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,026 shares of the specialty retailer's stock after acquiring an additional 3,288 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Genuine Parts were worth $7,985,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in GPC. Norges Bank bought a new stake in shares of Genuine Parts in the 4th quarter valued at approximately $206,645,000. Junto Capital Management LP acquired a new position in Genuine Parts during the 4th quarter valued at approximately $94,868,000. Alyeska Investment Group L.P. boosted its position in Genuine Parts by 204.7% during the 4th quarter. Alyeska Investment Group L.P. now owns 789,050 shares of the specialty retailer's stock valued at $92,129,000 after purchasing an additional 530,057 shares during the period. Invesco Ltd. boosted its position in Genuine Parts by 18.9% during the 4th quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock valued at $380,898,000 after purchasing an additional 518,851 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Genuine Parts during the 4th quarter valued at approximately $57,407,000. 78.83% of the stock is currently owned by institutional investors.
Genuine Parts Trading Up 1.2%
Shares of GPC stock opened at $120.47 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.52 and a current ratio of 1.15. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $149.22. The stock has a fifty day moving average of $121.89 and a two-hundred day moving average of $119.86. The firm has a market capitalization of $16.72 billion, a PE ratio of 19.78 and a beta of 0.76.
Genuine Parts (NYSE:GPC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.09. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.83 billion. As a group, research analysts expect that Genuine Parts Company will post 7.9 EPS for the current year.
Genuine Parts Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be issued a $1.03 dividend. The ex-dividend date is Friday, June 6th. This represents a $4.12 annualized dividend and a dividend yield of 3.42%. Genuine Parts's dividend payout ratio (DPR) is 67.65%.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on GPC. The Goldman Sachs Group restated a "sell" rating and set a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Argus upgraded Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. Evercore ISI reduced their price objective on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen lowered Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Finally, Truist Financial boosted their price objective on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $130.86.
Get Our Latest Stock Report on Genuine Parts
About Genuine Parts
(
Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Genuine Parts, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Genuine Parts wasn't on the list.
While Genuine Parts currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
