Voya Investment Management LLC Has $6.36 Million Stock Position in Genuine Parts (NYSE:GPC)

Voya Investment Management LLC reduced its position in Genuine Parts (NYSE:GPC - Free Report) by 38.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,484 shares of the specialty retailer's stock after selling 34,672 shares during the period. Voya Investment Management LLC's holdings in Genuine Parts were worth $6,362,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Caprock Group LLC purchased a new position in shares of Genuine Parts during the fourth quarter valued at $540,000. 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 valued at $198,338,000 after purchasing an additional 182,965 shares during the period. Canada Pension Plan Investment Board lifted its position in shares of Genuine Parts by 436.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer's stock worth $3,672,000 after purchasing an additional 25,583 shares in the last quarter. Verity & Verity LLC increased its stake in Genuine Parts by 9.7% in the 4th quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer's stock valued at $12,198,000 after buying an additional 9,199 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in Genuine Parts in the 4th quarter worth approximately $21,840,000. Institutional investors and hedge funds own 78.83% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Loop Capital began coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a "buy" rating and a $155.00 price target on the stock. Northcoast Research lowered Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. The Goldman Sachs Group restated a "sell" rating and issued a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. Truist Financial lifted 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. Finally, Argus upgraded shares of Genuine Parts to a "strong-buy" rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $130.86.

Genuine Parts Stock Performance

NYSE:GPC opened at $118.43 on Wednesday. The firm has a market capitalization of $16.44 billion, a PE ratio of 18.30 and a beta of 0.82. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. Genuine Parts has a 1 year low of $104.01 and a 1 year high of $160.37. The firm's fifty day simple moving average is $118.79 and its 200 day simple moving average is $120.39.

Genuine Parts (NYSE:GPC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, topping analysts' consensus estimates of $1.66 by $0.09. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. On average, sell-side analysts anticipate that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.48%. Genuine Parts's dividend payout ratio is 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.

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