Hunter Associates Investment Management LLC Has $2.28 Million Stock Holdings in Genuine Parts Company (NYSE:GPC)

Hunter Associates Investment Management LLC boosted its stake in Genuine Parts Company (NYSE:GPC - Free Report) by 22.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,150 shares of the specialty retailer's stock after purchasing an additional 3,517 shares during the period. Hunter Associates Investment Management LLC's holdings in Genuine Parts were worth $2,280,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GPC. Jones Financial Companies Lllp lifted its stake in Genuine Parts by 95.3% in the 4th quarter. Jones Financial Companies Lllp now owns 3,578 shares of the specialty retailer's stock valued at $418,000 after purchasing an additional 1,746 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Genuine Parts in the 4th quarter valued at approximately $21,840,000. Callan Family Office LLC bought a new position in shares of Genuine Parts during the fourth quarter valued at $253,000. Edgestream Partners L.P. bought a new position in shares of Genuine Parts during the fourth quarter valued at $776,000. Finally, Amundi raised its stake in shares of Genuine Parts by 45.0% during the fourth quarter. Amundi now owns 573,366 shares of the specialty retailer's stock valued at $66,814,000 after acquiring an additional 178,050 shares during the last quarter. Institutional investors own 78.83% of the company's stock.

Genuine Parts Trading Down 1.2%

NYSE GPC traded down $1.49 during mid-day trading on Friday, reaching $124.53. 896,087 shares of the stock were exchanged, compared to its average volume of 1,304,758. Genuine Parts Company has a one year low of $104.01 and a one year high of $149.22. The stock has a 50 day simple moving average of $123.67 and a 200-day simple moving average of $120.42. The stock has a market cap of $17.28 billion, a P/E ratio of 20.45 and a beta of 0.74. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.15 and a quick ratio of 0.52.

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 for the quarter, topping analysts' consensus estimates of $1.66 by $0.09. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.83 billion. Genuine Parts had a net margin of 3.60% and a return on equity of 23.71%. On average, analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GPC. Truist Financial raised their price target on shares of Genuine Parts from $133.00 to $137.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Wall Street Zen downgraded shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Argus raised shares of Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Evercore ISI dropped their price target on shares of 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 equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $130.86.

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.