Natixis Advisors LLC Acquires 53,310 Shares of Genuine Parts Company (NYSE:GPC)

Key Points

• Natixis Advisors LLC increased its holdings in Genuine Parts Company by 56.6% in Q1, owning approximately 0.11% of the company valued at $17.57 million.
• Genuine Parts reported $2.10 EPS for Q2, exceeding estimates, with revenue increasing 3.4% year-over-year to $6.16 billion.
• Analysts have mixed ratings on the stock, with a consensus rating of "Hold" and a price target of $135.29.

Natixis Advisors LLC increased its stake in Genuine Parts Company (NYSE:GPC - Free Report) by 56.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,497 shares of the specialty retailer's stock after purchasing an additional 53,310 shares during the period. Natixis Advisors LLC owned 0.11% of Genuine Parts worth $17,574,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GPC. Geode Capital Management LLC boosted its position in Genuine Parts by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 3,362,748 shares of the specialty retailer's stock valued at $391,604,000 after buying an additional 65,783 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Genuine Parts by 18.9% during the 4th quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer's stock valued at $380,898,000 after buying an additional 518,851 shares in the last quarter. Stifel Financial Corp increased its holdings in Genuine Parts by 21.6% during the 4th quarter. Stifel Financial Corp now owns 2,502,852 shares of the specialty retailer's stock worth $292,233,000 after acquiring an additional 445,259 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Genuine Parts by 5.1% in the 4th quarter. Ameriprise Financial Inc. now owns 2,136,214 shares of the specialty retailer's stock worth $249,426,000 after buying an additional 104,343 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Genuine Parts by 12.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer's stock worth $198,338,000 after buying an additional 182,965 shares during the last quarter. Institutional investors own 78.83% of the company's stock.

Genuine Parts Price Performance

NYSE:GPC traded up $1.65 during trading hours on Tuesday, hitting $132.91. 1,277,651 shares of the stock traded hands, compared to its average volume of 1,371,609. 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 Company has a 1 year low of $104.01 and a 1 year high of $144.49. The company has a market cap of $18.49 billion, a price-to-earnings ratio of 22.88 and a beta of 0.75. The stock has a 50 day moving average price of $125.46 and a 200 day moving average price of $121.76.

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 for the quarter, beating the consensus estimate of $2.08 by $0.02. Genuine Parts had a net margin of 3.40% and a return on equity of 22.41%. The business 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 firm earned $2.44 earnings per share. The company's revenue for the quarter was up 3.4% on a year-over-year basis. Sell-side analysts forecast that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Wall Street Zen cut shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Saturday, April 26th. Evercore ISI decreased 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. Loop Capital increased their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. raised their price objective 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. Finally, Truist Financial raised their price objective on shares of Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $135.29.

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.