Pensionfund Sabic Sells 1,200 Shares of Genuine Parts (NYSE:GPC)

by · The Cerbat Gem

Pensionfund Sabic lessened its stake in shares of Genuine Parts (NYSE:GPC – Free Report) by 14.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,300 shares of the specialty retailer’s stock after selling 1,200 shares during the quarter. Pensionfund Sabic’s holdings in Genuine Parts were worth $1,020,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in GPC. Gamco Investors INC. ET AL grew its holdings in shares of Genuine Parts by 0.8% during the 4th quarter. Gamco Investors INC. ET AL now owns 545,249 shares of the specialty retailer’s stock worth $75,517,000 after purchasing an additional 4,436 shares in the last quarter. Occudo Quantitative Strategies LP lifted its position in shares of Genuine Parts by 118.3% in the 4th quarter. Occudo Quantitative Strategies LP now owns 31,246 shares of the specialty retailer’s stock worth $4,328,000 after purchasing an additional 16,933 shares during the period. Optimist Retirement Group LLC acquired a new position in Genuine Parts in the fourth quarter valued at $1,432,000. Clarity Asset Management Inc. bought a new stake in shares of Genuine Parts during the 4th quarter valued at about $73,000. Finally, Taylor Financial Group Inc. bought a new position in shares of Genuine Parts during the 4th quarter worth approximately $573,000. Institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Truist Financial reissued a “buy” rating and set a $164.00 price objective on shares of Genuine Parts in a research report on Wednesday, August 28th. The Goldman Sachs Group reduced their target price on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Wedbush decreased their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. UBS Group lowered their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Finally, StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research report on Friday, October 4th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $161.14.

Read Our Latest Research Report on Genuine Parts

Genuine Parts Stock Performance

Genuine Parts stock opened at $133.44 on Friday. The firm’s 50 day simple moving average is $138.71 and its 200 day simple moving average is $143.81. The company has a current ratio of 1.12, a quick ratio of 0.54 and a debt-to-equity ratio of 0.66. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $164.45. The firm has a market capitalization of $18.59 billion, a PE ratio of 15.44 and a beta of 0.90.

Genuine Parts (NYSE:GPC – Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.59 by ($0.15). The business had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. Genuine Parts’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $2.44 EPS. As a group, analysts expect that Genuine Parts will post 9.37 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is 46.30%.

About Genuine Parts

(Free Report)

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.

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