Intech Investment Management LLC Has $10.26 Million Stock Holdings in Genuine Parts (NYSE:GPC)

Intech Investment Management LLC lowered its holdings in shares of Genuine Parts (NYSE:GPC) by 40.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 74,159 shares of the specialty retailer’s stock after selling 50,634 shares during the period. Intech Investment Management LLC’s holdings in Genuine Parts were worth $10,258,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Wulff Hansen & CO. boosted its holdings in shares of Genuine Parts by 13,732.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock worth $216,675,000 after buying an additional 1,555,149 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Genuine Parts by 27.0% during the 4th quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after acquiring an additional 431,623 shares during the period. DAVENPORT & Co LLC boosted its stake in Genuine Parts by 3,029.9% during the first quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock worth $58,999,000 after acquiring an additional 368,470 shares in the last quarter. Morningstar Investment Services LLC grew its holdings in Genuine Parts by 161.2% in the fourth quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock worth $80,066,000 after purchasing an additional 357,091 shares during the period. Finally, Natixis increased its stake in Genuine Parts by 768.4% in the first quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock valued at $49,014,000 after purchasing an additional 279,930 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GPC shares. Evercore ISI cut their price objective on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research report on Wednesday, July 24th. Wedbush cut their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. The Goldman Sachs Group decreased their price objective on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Truist Financial reaffirmed a “buy” rating and set a $164.00 target price on shares of Genuine Parts in a research report on Wednesday, August 28th. Finally, UBS Group reduced their price target on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $161.14.

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $137.02 on Friday. The company has a market cap of $19.09 billion, a PE ratio of 15.28 and a beta of 0.90. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $164.45. The business has a 50 day moving average price of $139.76 and a 200-day moving average price of $145.41.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. During the same quarter last year, the business posted $2.44 earnings per share. Genuine Parts’s revenue was up .8% on a year-over-year basis. Equities analysts anticipate that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be paid a $1.00 dividend. The ex-dividend date is Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 2.92%. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

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.