Handelsbanken Fonder AB Buys 2,406 Shares of Genuine Parts (NYSE:GPC)

Handelsbanken Fonder AB grew its position in Genuine Parts (NYSE:GPC - Free Report) by 2.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,319 shares of the specialty retailer's stock after acquiring an additional 2,406 shares during the period. Handelsbanken Fonder AB owned about 0.07% of Genuine Parts worth $11,118,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Millstone Evans Group LLC bought a new stake in shares of Genuine Parts during the 4th quarter valued at $25,000. Kestra Investment Management LLC bought a new stake in Genuine Parts during the fourth quarter worth about $28,000. First Command Advisory Services Inc. acquired a new stake in Genuine Parts during the fourth quarter worth about $28,000. Compass Planning Associates Inc bought a new position in Genuine Parts in the 4th quarter valued at about $29,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Genuine Parts in the 4th quarter valued at approximately $33,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Price Performance

Shares of GPC stock traded down $2.70 on Friday, reaching $119.43. The company's stock had a trading volume of 1,231,217 shares, compared to its average volume of 1,294,506. The company has a market capitalization of $16.58 billion, a P/E ratio of 18.46 and a beta of 0.76. Genuine Parts has a 12-month low of $104.01 and a 12-month high of $149.22. The stock's 50 day simple moving average is $120.30 and its 200-day simple moving average is $120.35. 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 (NYSE:GPC - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, beating analysts' consensus estimates of $1.66 by $0.09. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.83 billion. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. As a group, equities analysts predict that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $4.12 annualized dividend and a dividend yield of 3.45%. Genuine Parts's dividend payout ratio is presently 67.65%.

Wall Street Analysts Forecast Growth

GPC has been the topic of a number of research reports. Wall Street Zen cut shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. The Goldman Sachs Group reissued a "sell" rating and set a $114.00 price objective (down previously 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. Truist Financial increased their target price on Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Finally, 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 report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $130.86.

Genuine Parts Company 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.