Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 765 Shares of Genuine Parts (NYSE:GPC)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its holdings in shares of Genuine Parts (NYSE:GPC) by 2.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 29,563 shares of the specialty retailer’s stock after selling 765 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Genuine Parts were worth $3,452,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kestra Investment Management LLC bought a new position in Genuine Parts during the fourth quarter worth about $28,000. First Command Advisory Services Inc. bought a new position in Genuine Parts during the fourth quarter worth about $28,000. Compass Planning Associates Inc bought a new position in Genuine Parts during the fourth quarter worth about $29,000. Synergy Asset Management LLC bought a new position in Genuine Parts during the fourth quarter worth about $32,000. Finally, OFI Invest Asset Management bought a new position in Genuine Parts during the fourth quarter worth about $34,000. Institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

GPC has been the subject of a number of research analyst reports. Truist Financial lifted their price target on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Loop Capital assumed coverage on Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. Finally, Evercore ISI reduced their price objective on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $137.63.

Genuine Parts Stock Down 1.5 %

NYSE GPC opened at $118.93 on Monday. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a 50 day moving average of $120.99 and a 200-day moving average of $124.58. The company has a market cap of $16.50 billion, a price-to-earnings ratio of 18.38 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. The company had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the previous year, the business earned $2.26 earnings per share. On average, equities research analysts expect that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be given a dividend of $1.03 per share. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a yield of 3.46%. The ex-dividend date is Friday, March 7th. Genuine Parts’s payout ratio is currently 63.68%.

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.