Rhumbline Advisers Raises Stock Holdings in Genuine Parts (NYSE:GPC)

Rhumbline Advisers grew its holdings in Genuine Parts (NYSE:GPC - Free Report) by 9.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 267,672 shares of the specialty retailer's stock after purchasing an additional 23,598 shares during the period. Rhumbline Advisers owned about 0.19% of Genuine Parts worth $31,890,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Millstone Evans Group LLC purchased a new position in Genuine Parts in the 4th quarter worth about $25,000. Kestra Investment Management LLC bought a new position in Genuine Parts in the 4th quarter worth about $28,000. First Command Advisory Services Inc. purchased a new position in shares of Genuine Parts during the fourth quarter worth approximately $28,000. Compass Planning Associates Inc bought a new stake in shares of Genuine Parts during the fourth quarter valued at approximately $29,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Genuine Parts in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 78.83% of the company's stock.

Analyst Upgrades and Downgrades

GPC has been the topic of a number of recent research reports. Argus raised Genuine Parts to a "strong-buy" rating in a research report on Friday, April 25th. Evercore ISI reduced their price target on shares of Genuine Parts from $135.00 to $130.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Truist Financial upped their price target on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. The Goldman Sachs Group reissued a "sell" rating and set a $114.00 price objective (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Finally, Wall Street Zen lowered Genuine Parts from a "buy" rating to a "hold" rating in a report on Saturday, April 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Genuine Parts has an average rating of "Moderate Buy" and an average price target of $130.86.

Genuine Parts Stock Performance

GPC traded down $0.80 during trading on Friday, hitting $125.36. The stock had a trading volume of 664,087 shares, compared to its average volume of 1,287,920. The firm has a market capitalization of $17.40 billion, a P/E ratio of 19.38 and a beta of 0.76. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. Genuine Parts has a twelve month low of $104.01 and a twelve month high of $149.22. The company's 50-day moving average price is $119.55 and its 200 day moving average price is $120.33.

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

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th will be given a dividend of $1.03 per share. The ex-dividend date is Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a yield of 3.29%. Genuine Parts's payout ratio is 67.65%.

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.