Genuine Parts (NYSE:GPC) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its position in shares of Genuine Parts (NYSE:GPC) by 6.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 110,778 shares of the specialty retailer’s stock after selling 7,435 shares during the quarter. New York State Teachers Retirement System owned 0.08% of Genuine Parts worth $15,473,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Concord Wealth Partners grew its holdings in shares of Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 119 shares during the last quarter. Manchester Capital Management LLC grew its holdings in shares of Genuine Parts by 36.1% in the 1st quarter. Manchester Capital Management LLC now owns 249 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 66 shares during the last quarter. Triad Wealth Partners LLC acquired a new position in shares of Genuine Parts in the 2nd quarter worth $40,000. Rosenberg Matthew Hamilton grew its holdings in shares of Genuine Parts by 92.2% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 371 shares of the specialty retailer’s stock worth $50,000 after acquiring an additional 178 shares during the last quarter. Finally, Armstrong Advisory Group Inc. grew its holdings in shares of Genuine Parts by 63.8% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock worth $51,000 after acquiring an additional 141 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on GPC. Truist Financial decreased their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Evercore ISI raised their target price on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. decreased their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. UBS Group decreased their target price 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. Finally, The Goldman Sachs Group decreased their target price on Genuine Parts from $162.00 to $138.00 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 given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Price Performance

GPC opened at $113.61 on Friday. The stock has a market cap of $15.80 billion, a price-to-earnings ratio of 14.62 and a beta of 0.92. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The stock has a fifty day moving average price of $134.72 and a 200 day moving average price of $141.10.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data 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 firm had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. Genuine Parts’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.49 EPS. Analysts forecast that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were given a $1.00 dividend. The ex-dividend date was Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.52%. Genuine Parts’s dividend payout ratio is currently 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.