Teacher Retirement System of Texas Takes Position in Genuine Parts Company (NYSE:GPC)

Teacher Retirement System of Texas purchased a new stake in shares of Genuine Parts Company (NYSE:GPC - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 20,329 shares of the specialty retailer's stock, valued at approximately $2,422,000.

A number of other institutional investors have also recently made changes to their positions in GPC. Strategic Wealth Partners Ltd. lifted its stake in shares of Genuine Parts by 4.2% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 2,420 shares of the specialty retailer's stock worth $302,000 after purchasing an additional 98 shares during the period. Keybank National Association OH lifted its stake in shares of Genuine Parts by 0.5% in the 1st quarter. Keybank National Association OH now owns 20,862 shares of the specialty retailer's stock worth $2,486,000 after purchasing an additional 98 shares during the period. Veracity Capital LLC lifted its stake in shares of Genuine Parts by 4.9% in the 1st quarter. Veracity Capital LLC now owns 2,147 shares of the specialty retailer's stock worth $256,000 after purchasing an additional 100 shares during the period. Gallagher Fiduciary Advisors LLC raised its stake in Genuine Parts by 4.7% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 2,647 shares of the specialty retailer's stock worth $309,000 after acquiring an additional 118 shares during the period. Finally, Investors Research Corp raised its stake in Genuine Parts by 75.3% during the 1st quarter. Investors Research Corp now owns 291 shares of the specialty retailer's stock worth $35,000 after acquiring an additional 125 shares during the period. Hedge funds and other institutional investors own 78.83% of the company's stock.

Analysts Set New Price Targets

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

Genuine Parts Trading Down 1.2%

Shares of GPC traded down $1.49 during trading hours on Friday, reaching $124.53. 896,087 shares of the company traded hands, compared to its average volume of 1,304,758. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $149.22. The stock's fifty day moving average price is $123.67 and its 200 day moving average price is $120.40. The firm has a market cap of $17.28 billion, a price-to-earnings ratio of 20.45 and a beta of 0.74. The company has a current ratio of 1.15, a quick ratio of 0.52 and a debt-to-equity ratio of 0.85.

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, topping analysts' consensus estimates of $1.66 by $0.09. Genuine Parts had a net margin of 3.60% and a return on equity of 23.71%. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.83 billion. Sell-side analysts forecast that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company 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 3.31%. Genuine Parts's dividend payout ratio is presently 67.65%.

Genuine Parts Company 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.