Nuveen Asset Management LLC Increases Position in Genuine Parts (NYSE:GPC)

Nuveen Asset Management LLC increased its holdings in shares of Genuine Parts (NYSE:GPC - Free Report) by 5.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 344,035 shares of the specialty retailer's stock after acquiring an additional 17,822 shares during the period. Nuveen Asset Management LLC owned approximately 0.25% of Genuine Parts worth $40,170,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of GPC. JPMorgan Chase & Co. boosted its holdings in Genuine Parts by 6.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer's stock worth $257,124,000 after buying an additional 114,180 shares during the last quarter. Merit Financial Group LLC acquired a new stake in Genuine Parts in the 4th quarter worth about $452,000. Arkadios Wealth Advisors acquired a new stake in Genuine Parts in the 4th quarter worth about $488,000. Clear Harbor Asset Management LLC boosted its holdings in Genuine Parts by 3.6% in the 4th quarter. Clear Harbor Asset Management LLC now owns 3,994 shares of the specialty retailer's stock worth $466,000 after buying an additional 140 shares during the last quarter. Finally, Aspire Private Capital LLC acquired a new stake in Genuine Parts in the 4th quarter worth about $232,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Truist Financial lifted their price objective on Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a 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. The Goldman Sachs Group restated a "sell" rating and set a $114.00 target price (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Argus upgraded Genuine Parts to a "strong-buy" rating in a report 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 research analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Genuine Parts presently has a consensus rating of "Moderate Buy" and a consensus target price of $130.86.

Genuine Parts Trading Down 0.5%

Shares of GPC stock traded down $0.58 during trading on Monday, hitting $126.31. 978,633 shares of the stock traded hands, compared to its average volume of 1,283,534. The firm has a market capitalization of $17.53 billion, a P/E ratio of 19.52 and a beta of 0.76. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The firm's fifty day moving average price is $118.35 and its 200-day moving average price is $120.09. Genuine Parts has a 52-week low of $104.01 and a 52-week high of $149.22.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, beating the consensus estimate of $1.66 by $0.09. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. As a group, research analysts forecast that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Friday, June 6th. Genuine Parts's payout ratio is presently 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.