New York State Teachers Retirement System Sells 3,001 Shares of Genuine Parts Company (NYSE:GPC)

New York State Teachers Retirement System trimmed its position in shares of Genuine Parts Company (NYSE:GPC - Free Report) by 2.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 105,288 shares of the specialty retailer's stock after selling 3,001 shares during the quarter. New York State Teachers Retirement System owned 0.08% of Genuine Parts worth $12,544,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Strategic Wealth Partners Ltd. boosted its stake in Genuine Parts by 4.2% during the fourth quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer's stock worth $302,000 after buying an additional 98 shares during the period. Veracity Capital LLC boosted its stake in Genuine Parts by 4.9% during the first quarter. Veracity Capital LLC now owns 2,147 shares of the specialty retailer's stock worth $256,000 after buying an additional 100 shares during the period. Gallagher Fiduciary Advisors LLC boosted 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 buying an additional 118 shares during the period. Investors Research Corp boosted its stake in Genuine Parts by 75.3% during the first quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock worth $35,000 after buying an additional 125 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in Genuine Parts by 1.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,512 shares of the specialty retailer's stock worth $877,000 after buying an additional 128 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Genuine Parts Stock Down 0.0%

Shares of GPC stock traded down $0.06 on Friday, hitting $127.41. The stock had a trading volume of 495,193 shares, compared to its average volume of 1,302,277. The company has a quick ratio of 0.52, a current ratio of 1.15 and a debt-to-equity ratio of 0.85. The business has a 50 day moving average price of $122.94 and a 200 day moving average price of $120.07. The company has a market cap of $17.68 billion, a PE ratio of 20.92 and a beta of 0.74. Genuine Parts Company has a one year low of $104.01 and a one year high of $149.22.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.83 billion. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. Research analysts anticipate that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Friday, June 6th were issued a $1.03 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $4.12 annualized dividend and a dividend yield of 3.23%. 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.