Aigen Investment Management LP Sells 5,264 Shares of Genuine Parts Company $GPC

Key Points

• Aigen Investment Management LP significantly reduced its stake in Genuine Parts Company by 72.3% in the first quarter, holding only 2,016 shares after selling 5,264 shares.
• In contrast, several other institutional investors, including JPMorgan Chase & Co., increased their holdings in Genuine Parts, indicating a strong institutional interest in the stock, which is now 78.83% owned by such investors.
• Analysts have mixed views on Genuine Parts, with price targets ranging from $130.00 to $145.00, and a current consensus rating of "Hold" based on its recent performance.

Aigen Investment Management LP trimmed its position in Genuine Parts Company (NYSE:GPC - Free Report) by 72.3% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,016 shares of the specialty retailer's stock after selling 5,264 shares during the period. Aigen Investment Management LP's holdings in Genuine Parts were worth $240,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Pinnacle Associates Ltd. boosted its position in Genuine Parts by 2.8% in the 1st quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer's stock valued at $402,000 after buying an additional 93 shares during the last quarter. Strategic Wealth Partners Ltd. boosted its position in Genuine Parts by 4.2% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer's stock valued at $302,000 after buying an additional 98 shares during the last quarter. Keybank National Association OH boosted its position in Genuine Parts by 0.5% in the 1st quarter. Keybank National Association OH now owns 20,862 shares of the specialty retailer's stock valued at $2,486,000 after buying an additional 98 shares during the last quarter. Veracity Capital LLC boosted its position in Genuine Parts by 4.9% in the 1st quarter. Veracity Capital LLC now owns 2,147 shares of the specialty retailer's stock valued at $256,000 after buying an additional 100 shares during the last quarter. Finally, Gallagher Fiduciary Advisors LLC boosted its position in shares of Genuine Parts by 4.7% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 2,647 shares of the specialty retailer's stock worth $309,000 after purchasing an additional 118 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GPC has been the topic of several recent research reports. UBS Group raised their price target on Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Loop Capital raised their price target on Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Evercore ISI reduced their price target on Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock 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, Argus raised Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Genuine Parts currently has an average rating of "Hold" and an average price target of $135.29.

Genuine Parts Stock Down 0.6%

Shares of Genuine Parts stock traded down $0.76 during trading on Monday, reaching $137.04. The stock had a trading volume of 438,978 shares, compared to its average volume of 1,406,280. The company has a market capitalization of $19.06 billion, a price-to-earnings ratio of 23.59 and a beta of 0.75. The stock has a fifty day moving average price of $126.96 and a two-hundred day moving average price of $122.82. Genuine Parts Company has a 52 week low of $104.01 and a 52 week high of $144.49. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.79.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.02. The company had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.10 billion. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%. The company's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.44 earnings per share. Sell-side analysts predict that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Friday, September 5th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, September 5th. Genuine Parts's dividend payout ratio is presently 70.91%.

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.