ING Groep NV Acquires New Shares in Genuine Parts Company (NYSE:GPC)

Key Points

• ING Groep NV has invested approximately $9.70 million in Genuine Parts Company, acquiring 81,440 shares in the first quarter.
• Genuine Parts reported an EPS of $2.10, exceeding analyst expectations and showing a 3.4% increase in quarterly revenue compared to the previous year.
• Analysts have mixed opinions on Genuine Parts' stock, with updates on target prices reflecting a range of ratings from sell to strong buy, leading to an average price target of $135.29.

ING Groep NV acquired a new stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 81,440 shares of the specialty retailer's stock, valued at approximately $9,703,000. ING Groep NV owned about 0.06% of Genuine Parts as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Junto Capital Management LP bought a new stake in shares of Genuine Parts during the 4th quarter valued at about $94,868,000. Alyeska Investment Group L.P. increased its stake in shares of Genuine Parts by 204.7% in the 4th quarter. Alyeska Investment Group L.P. now owns 789,050 shares of the specialty retailer's stock worth $92,129,000 after purchasing an additional 530,057 shares in the last quarter. Invesco Ltd. raised its holdings in Genuine Parts by 18.9% in the 4th quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock worth $380,898,000 after purchasing an additional 518,851 shares during the period. GAMMA Investing LLC raised its holdings in Genuine Parts by 20,194.9% in the 1st quarter. GAMMA Investing LLC now owns 476,322 shares of the specialty retailer's stock worth $56,749,000 after purchasing an additional 473,975 shares during the period. Finally, Stifel Financial Corp lifted its position in Genuine Parts by 21.6% during the fourth quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer's stock valued at $292,233,000 after purchasing an additional 445,259 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company's stock.

Wall Street Analyst Weigh In

GPC has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Genuine Parts from $134.00 to $145.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Loop Capital raised their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. UBS Group upped their target price on Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Argus raised shares of Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Evercore ISI lowered their target price 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 analyst has rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $135.29.

Genuine Parts Stock Up 0.4%

NYSE:GPC traded up $0.52 during mid-day trading on Thursday, hitting $133.97. The stock had a trading volume of 747,223 shares, compared to its average volume of 1,378,374. The company has a market capitalization of $18.63 billion, a PE ratio of 23.06 and a beta of 0.75. 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 Company has a twelve month low of $104.01 and a twelve month high of $144.49. The stock has a 50-day simple moving average of $125.87 and a two-hundred day simple moving average of $122.02.

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

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.