Rhumbline Advisers cut its stake in shares of Genuine Parts (NYSE:GPC – Free Report) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 258,840 shares of the specialty retailer’s stock after selling 8,962 shares during the period. Rhumbline Advisers owned 0.19% of Genuine Parts worth $35,803,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. WD Rutherford LLC bought a new stake in Genuine Parts during the first quarter valued at $26,000. Assetmark Inc. grew its holdings in shares of Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 96 shares in the last quarter. Union Savings Bank increased its position in shares of Genuine Parts by 100.0% in the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. Thompson Investment Management Inc. purchased a new stake in Genuine Parts in the first quarter valued at approximately $35,000. Finally, Stephens Consulting LLC lifted its position in Genuine Parts by 740.7% during the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 200 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.
Genuine Parts Stock Performance
Shares of GPC stock opened at $134.39 on Friday. The company has a market capitalization of $18.72 billion, a P/E ratio of 14.98 and a beta of 0.92. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $164.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. The stock has a 50 day moving average price of $139.14 and a two-hundred day moving average price of $146.10.
Genuine Parts Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $4.00 annualized dividend and a dividend yield of 2.98%. Genuine Parts’s payout ratio is presently 44.59%.
Analyst Ratings Changes
A number of equities analysts have recently commented on the stock. Evercore ISI decreased their price target on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a report on Wednesday, July 24th. The Goldman Sachs Group lowered their price target on Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. UBS Group dropped their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Truist Financial reissued a “buy” rating and set a $164.00 price target on shares of Genuine Parts in a research note on Wednesday, August 28th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Genuine Parts has a consensus rating of “Hold” and an average price target of $161.14.
Read Our Latest Research Report on Genuine Parts
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.
See Also
- Five stocks we like better than Genuine Parts
- Which Wall Street Analysts are the Most Accurate?
- Does GTA VI Make Take-Two Interactive Stock an Irresistible Buy?
- What is a Low P/E Ratio and What Does it Tell Investors?
- Why HPE’s Dip Is a Prime Opportunity for Blue-Chip AI Investors
- What is a SEC Filing?
- Why Analysts See Big Upside for Occidental Petroleum Despite Lows
Want to see what other hedge funds are holding GPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genuine Parts (NYSE:GPC – Free Report).
Receive News & Ratings for Genuine Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genuine Parts and related companies with MarketBeat.com's FREE daily email newsletter.