Intech Investment Management LLC Sells 50,634 Shares of Genuine Parts (NYSE:GPC)

Intech Investment Management LLC lessened its position in shares of Genuine Parts (NYSE:GPC) by 40.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,159 shares of the specialty retailer’s stock after selling 50,634 shares during the period. Intech Investment Management LLC owned approximately 0.05% of Genuine Parts worth $10,258,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in GPC. Assetmark Inc. raised its position in Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after purchasing an additional 96 shares in the last quarter. WD Rutherford LLC acquired a new position in shares of Genuine Parts during the 1st quarter worth $26,000. Union Savings Bank lifted its position in shares of Genuine Parts by 100.0% during the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after buying an additional 100 shares during the last quarter. Thompson Investment Management Inc. bought a new stake in shares of Genuine Parts during the 1st quarter worth $35,000. Finally, Stephens Consulting LLC boosted its stake in Genuine Parts by 740.7% in the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on GPC. StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. The Goldman Sachs Group dropped their price objective 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 target price on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Truist Financial reiterated a “buy” rating and issued a $164.00 price target on shares of Genuine Parts in a research note on Wednesday, August 28th. Finally, UBS Group reduced their price objective on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 3rd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $161.14.

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $137.02 on Friday. The stock has a market cap of $19.09 billion, a price-to-earnings ratio of 15.28 and a beta of 0.90. The company has a quick ratio of 0.54, a current ratio of 1.12 and a debt-to-equity ratio of 0.66. Genuine Parts has a twelve month low of $126.35 and a twelve month high of $164.45. The company’s fifty day moving average is $139.76 and its 200 day moving average is $145.41.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.15). Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The company had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. During the same quarter last year, the business earned $2.44 earnings per share. Genuine Parts’s revenue was up .8% compared to the same quarter last year. Sell-side analysts forecast that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend is Friday, September 6th. Genuine Parts’s dividend payout ratio is currently 44.59%.

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.