Genuine Parts Company (NYSE:GPC) Shares Bought by IFM Investors Pty Ltd

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

Several other institutional investors have also recently made changes to their positions in GPC. Checchi Capital Advisers LLC lifted its holdings in Genuine Parts by 5.5% during the 1st quarter. Checchi Capital Advisers LLC now owns 3,036 shares of the specialty retailer's stock valued at $362,000 after buying an additional 159 shares in the last quarter. North Capital Inc. purchased a new position in shares of Genuine Parts in the 1st quarter worth approximately $28,000. Principal Financial Group Inc. grew its position in Genuine Parts by 6.9% during the 1st quarter. Principal Financial Group Inc. now owns 183,700 shares of the specialty retailer's stock worth $21,886,000 after purchasing an additional 11,848 shares during the last quarter. Capital Investment Counsel Inc grew its position in Genuine Parts by 31.3% during the 1st quarter. Capital Investment Counsel Inc now owns 2,390 shares of the specialty retailer's stock worth $285,000 after purchasing an additional 570 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in Genuine Parts during the 1st quarter valued at approximately $2,422,000. Institutional investors own 78.83% of the company's stock.

Analyst Upgrades and Downgrades

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

Genuine Parts Stock Performance

NYSE GPC traded up $1.01 during trading on Tuesday, reaching $126.54. The company's stock had a trading volume of 998,782 shares, compared to its average volume of 1,299,447. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.52 and a current ratio of 1.15. The firm has a market cap of $17.56 billion, a price-to-earnings ratio of 20.78 and a beta of 0.74. Genuine Parts Company has a twelve month low of $104.01 and a twelve month high of $149.22. The business's fifty day moving average price is $123.10 and its 200-day moving average price is $120.18.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, beating 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 business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.83 billion. As a group, analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th were given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.26%. The ex-dividend date was Friday, June 6th. Genuine Parts's payout ratio is currently 67.65%.

Genuine Parts 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.