IFM Investors Pty Ltd Has $3.56 Million Position in Genuine Parts Company (NYSE:GPC)

IFM Investors Pty Ltd raised its stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 8.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,902 shares of the specialty retailer's stock after buying an additional 2,319 shares during the period. IFM Investors Pty Ltd's holdings in Genuine Parts were worth $3,563,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GPC. Fisher Asset Management LLC increased its stake in Genuine Parts by 8.7% during the 4th quarter. Fisher Asset Management LLC now owns 1,915 shares of the specialty retailer's stock valued at $224,000 after buying an additional 153 shares during the period. Jones Financial Companies Lllp increased its stake in Genuine Parts by 95.3% during the 4th quarter. Jones Financial Companies Lllp now owns 3,578 shares of the specialty retailer's stock valued at $418,000 after buying an additional 1,746 shares during the period. SBI Securities Co. Ltd. acquired a new position in Genuine Parts during the 4th quarter valued at about $107,000. Steward Partners Investment Advisory LLC increased its stake in Genuine Parts by 18.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 13,118 shares of the specialty retailer's stock valued at $1,532,000 after buying an additional 2,063 shares during the period. Finally, Assetmark Inc. increased its stake in Genuine Parts by 4,645.1% during the 4th quarter. Assetmark Inc. now owns 16,608 shares of the specialty retailer's stock valued at $1,939,000 after buying an additional 16,258 shares during the period. Institutional investors and hedge funds own 78.83% of the company's stock.

Genuine Parts Trading Up 0.6%

Shares of GPC traded up $0.69 during midday trading on Thursday, hitting $125.94. The stock had a trading volume of 1,428,053 shares, compared to its average volume of 1,302,501. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $149.22. The business has a 50-day simple moving average of $123.41 and a two-hundred day simple moving average of $120.26. The firm has a market cap of $17.48 billion, a P/E ratio of 20.68 and a beta of 0.74. 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 earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, topping the consensus estimate of $1.66 by $0.09. Genuine Parts had a net margin of 3.60% and a return on equity of 23.71%. The company had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.83 billion. As a group, equities analysts forecast that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Friday, June 6th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend was Friday, June 6th. Genuine Parts's dividend payout ratio is currently 67.65%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GPC. Wall Street Zen cut shares of Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. Evercore ISI lowered their price objective on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Truist Financial lifted their price objective on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Argus raised shares of Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. Finally, The Goldman Sachs Group reaffirmed a "sell" rating and issued a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. One analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently 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.