Quantbot Technologies LP Acquires Shares of 28,635 Genuine Parts (NYSE:GPC)

Quantbot Technologies LP acquired a new stake in Genuine Parts (NYSE:GPC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 28,635 shares of the specialty retailer’s stock, valued at approximately $3,961,000.

A number of other hedge funds also recently bought and sold shares of GPC. Assetmark Inc. raised its holdings in Genuine Parts by 109.1% in the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 96 shares during the last quarter. WD Rutherford LLC purchased a new stake in shares of Genuine Parts in the 1st quarter valued at approximately $26,000. Union Savings Bank grew its stake in shares of Genuine Parts by 100.0% in the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock valued at $31,000 after buying an additional 100 shares during the period. Thompson Investment Management Inc. purchased a new stake in shares of Genuine Parts in the 1st quarter valued at approximately $35,000. Finally, Stephens Consulting LLC grew its stake in shares of Genuine Parts by 740.7% in the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Performance

NYSE:GPC opened at $137.35 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $164.45. The stock has a market capitalization of $19.13 billion, a P/E ratio of 15.31 and a beta of 0.90. The company has a 50 day moving average price of $139.47 and a 200 day moving average price of $145.59.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS 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 business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.03 billion. During the same period in the prior year, the business earned $2.44 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. Equities research analysts forecast that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be given a $1.00 dividend. The ex-dividend date is Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 2.91%. Genuine Parts’s dividend payout ratio is presently 44.59%.

Analyst Ratings Changes

GPC has been the subject of several analyst reports. Evercore ISI dropped their price target on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research note on Wednesday, July 24th. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Saturday, September 7th. UBS Group dropped 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 note on Wednesday, July 3rd. The Goldman Sachs Group lowered their price objective on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Finally, Truist Financial reaffirmed a “buy” rating and set a $164.00 price objective on shares of Genuine Parts in a research report on Wednesday, August 28th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $161.14.

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.