MetLife Investment Management LLC Lowers Position in Genuine Parts (NYSE:GPC)

MetLife Investment Management LLC reduced its position in shares of Genuine Parts (NYSE:GPC) by 2.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,218 shares of the specialty retailer’s stock after selling 930 shares during the period. MetLife Investment Management LLC’s holdings in Genuine Parts were worth $5,059,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Genuine Parts during the 3rd quarter worth $26,000. Capital Performance Advisors LLP acquired a new position in Genuine Parts during the third quarter worth about $31,000. Concord Wealth Partners grew its position in Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after buying an additional 119 shares during the period. Triad Wealth Partners LLC purchased a new position in Genuine Parts in the second quarter valued at about $40,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Genuine Parts during the 3rd quarter valued at approximately $44,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on GPC. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. UBS Group dropped their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Evercore ISI lifted their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group cut their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Trading Down 0.1 %

Shares of GPC stock opened at $126.73 on Monday. The firm’s 50-day simple moving average is $128.43 and its 200-day simple moving average is $136.28. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The firm has a market cap of $17.62 billion, a P/E ratio of 16.31 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.94 billion. During the same period in the prior year, the business earned $2.49 EPS. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities analysts forecast that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

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.