Motco Has $3.83 Million Stock Holdings in Genuine Parts Company (NYSE:GPC)

Key Points

• Motco decreased its stake in Genuine Parts Company by 5.9% in Q1, reducing its holdings to 32,175 shares valued at approximately $3.83 million.
• Several institutional investors, including Dimensional Fund Advisors and Canada Pension Plan Investment Board, have recently increased their holdings in Genuine Parts Company, indicating strong interest in the stock.
• Despite a solid earnings report for Q2 with EPS of $2.10, analysts maintain a consensus rating of "Hold" for the stock, with a target price averaging around $135.29.

Motco reduced its stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,175 shares of the specialty retailer's stock after selling 2,032 shares during the quarter. Motco's holdings in Genuine Parts were worth $3,833,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Pinnacle Associates Ltd. increased its holdings in Genuine Parts by 2.8% in the 1st quarter. Pinnacle Associates Ltd. now owns 3,376 shares of the specialty retailer's stock valued at $402,000 after buying an additional 93 shares during the period. Strategic Wealth Partners Ltd. increased its stake in Genuine Parts by 4.2% in the fourth quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer's stock valued at $302,000 after acquiring an additional 98 shares during the last quarter. Keybank National Association OH raised its position in Genuine Parts by 0.5% during the first quarter. Keybank National Association OH now owns 20,862 shares of the specialty retailer's stock valued at $2,486,000 after purchasing an additional 98 shares in the last quarter. Veracity Capital LLC raised its position in Genuine Parts by 4.9% during the first quarter. Veracity Capital LLC now owns 2,147 shares of the specialty retailer's stock valued at $256,000 after purchasing an additional 100 shares in the last quarter. Finally, Gallagher Fiduciary Advisors LLC lifted its stake in Genuine Parts by 4.7% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 2,647 shares of the specialty retailer's stock worth $309,000 after purchasing an additional 118 shares during the last quarter. Institutional investors own 78.83% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Truist Financial boosted their price target on Genuine Parts from $137.00 to $143.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Wall Street Zen cut shares of Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. JPMorgan Chase & Co. raised their price target on shares of Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. UBS Group upped their price objective on shares of Genuine Parts from $125.00 to $135.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Finally, Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Genuine Parts has an average rating of "Hold" and an average price target of $135.29.

Genuine Parts Trading Down 0.5%

GPC traded down $0.65 during midday trading on Monday, hitting $133.05. 1,192,790 shares of the company were exchanged, compared to its average volume of 1,155,766. The firm's 50 day moving average price is $125.04 and its 200-day moving average price is $121.30. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $149.22. The firm has a market capitalization of $18.51 billion, a P/E ratio of 22.90 and a beta of 0.74. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.79.

Genuine Parts (NYSE:GPC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The specialty retailer reported $2.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The firm had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.10 billion. During the same quarter in the previous year, the company earned $2.44 EPS. The company's revenue for the quarter was up 3.4% on a year-over-year basis. As a group, equities analysts forecast that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th were issued a $1.03 dividend. The ex-dividend date was Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a yield of 3.10%. Genuine Parts's payout ratio is currently 70.91%.

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.