Intech Investment Management LLC Decreases Holdings in Genuine Parts (NYSE:GPC)

Intech Investment Management LLC lowered its holdings in Genuine Parts (NYSE:GPC) by 43.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 41,810 shares of the specialty retailer’s stock after selling 32,349 shares during the quarter. Intech Investment Management LLC’s holdings in Genuine Parts were worth $5,840,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Axxcess Wealth Management LLC lifted its position in Genuine Parts by 12.5% during the first quarter. Axxcess Wealth Management LLC now owns 1,649 shares of the specialty retailer’s stock valued at $255,000 after purchasing an additional 183 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Genuine Parts by 0.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 192,927 shares of the specialty retailer’s stock worth $29,891,000 after acquiring an additional 1,127 shares during the last quarter. Public Employees Retirement Association of Colorado increased its holdings in Genuine Parts by 10.1% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 116,340 shares of the specialty retailer’s stock valued at $18,025,000 after purchasing an additional 10,683 shares during the period. SVB Wealth LLC increased its stake in shares of Genuine Parts by 3.2% during the first quarter. SVB Wealth LLC now owns 4,927 shares of the specialty retailer’s stock valued at $763,000 after buying an additional 151 shares during the period. Finally, Kinloch Capital LLC raised its holdings in Genuine Parts by 9.2% in the 1st quarter. Kinloch Capital LLC now owns 21,487 shares of the specialty retailer’s stock worth $3,329,000 after purchasing an additional 1,807 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Genuine Parts Trading Up 1.7 %

Genuine Parts stock opened at $124.78 on Friday. The firm’s 50 day moving average price is $129.44 and its 200-day moving average price is $137.38. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The stock has a market cap of $17.35 billion, a P/E ratio of 16.06 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. Genuine Parts’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.49 earnings per share. On average, equities analysts predict that Genuine Parts will post 8.09 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 Thursday, January 2nd. Investors of record on Friday, December 6th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.21%. Genuine Parts’s dividend payout ratio (DPR) is currently 51.48%.

Analyst Ratings Changes

A number of research analysts have recently commented on GPC shares. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research note on Monday, November 11th. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. decreased their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. The Goldman Sachs Group dropped their target price on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Finally, Evercore ISI lifted their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $139.57.

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.