Louisiana State Employees Retirement System Has $1.09 Million Stock Holdings in Genuine Parts (NYSE:GPC)

Louisiana State Employees Retirement System lowered its position in shares of Genuine Parts (NYSE:GPC) by 1.3% in the third quarter, Holdings Channel reports. The firm owned 7,800 shares of the specialty retailer’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Genuine Parts were worth $1,090,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of GPC. Manchester Capital Management LLC boosted its position in shares of Genuine Parts by 36.1% during the first quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after purchasing an additional 66 shares in the last quarter. First Citizens Bank & Trust Co. increased its holdings in shares of Genuine Parts by 4.9% in the second quarter. First Citizens Bank & Trust Co. now owns 1,616 shares of the specialty retailer’s stock worth $224,000 after acquiring an additional 75 shares in the last quarter. HBK Sorce Advisory LLC raised its position in shares of Genuine Parts by 1.8% during the first quarter. HBK Sorce Advisory LLC now owns 4,437 shares of the specialty retailer’s stock worth $689,000 after purchasing an additional 80 shares during the period. Dover Advisors LLC lifted its holdings in shares of Genuine Parts by 5.1% during the 2nd quarter. Dover Advisors LLC now owns 1,756 shares of the specialty retailer’s stock valued at $243,000 after purchasing an additional 85 shares in the last quarter. Finally, Blackhawk Capital Partners LLC. grew its position in shares of Genuine Parts by 1.3% in the 2nd quarter. Blackhawk Capital Partners LLC. now owns 6,793 shares of the specialty retailer’s stock valued at $940,000 after purchasing an additional 86 shares during the period. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Down 1.0 %

Shares of NYSE:GPC opened at $113.61 on Friday. The stock has a market capitalization of $15.80 billion, a PE ratio of 14.62 and a beta of 0.92. The company’s 50-day moving average price is $134.72 and its two-hundred day moving average price is $141.10. 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 one year low of $112.74 and a one year high of $164.45.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). The company 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%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.49 EPS. On average, equities analysts forecast that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a $1.00 dividend. The ex-dividend date was Friday, September 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.52%. Genuine Parts’s dividend payout ratio is presently 51.48%.

Analysts Set New Price Targets

Several analysts have commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. UBS Group dropped their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Truist Financial lowered their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. The Goldman Sachs Group dropped their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Finally, Wedbush reduced their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average 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.