Renaissance Technologies LLC Invests $10.90 Million in Genuine Parts (NYSE:GPC)

Renaissance Technologies LLC acquired a new position in shares of Genuine Parts (NYSE:GPC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 78,800 shares of the specialty retailer’s stock, valued at approximately $10,900,000. Renaissance Technologies LLC owned approximately 0.06% of Genuine Parts at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GPC. Assetmark Inc. lifted its position in Genuine Parts by 109.1% in the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 96 shares in the last quarter. WD Rutherford LLC bought a new position in Genuine Parts in the 1st quarter valued at about $26,000. Union Savings Bank lifted its position in Genuine Parts by 100.0% in the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock valued at $31,000 after acquiring an additional 100 shares in the last quarter. Thompson Investment Management Inc. bought a new position in Genuine Parts in the 1st quarter valued at about $35,000. Finally, Stephens Consulting LLC lifted its position in Genuine Parts by 740.7% in the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

GPC has been the topic of several recent research reports. Wedbush dropped their price target on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Evercore ISI decreased their price objective on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a research note on Wednesday, July 24th. UBS Group decreased their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Truist Financial reiterated a “buy” rating and issued a $164.00 price objective on shares of Genuine Parts in a research note on Wednesday, August 28th. Finally, The Goldman Sachs Group decreased 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. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $161.14.

Genuine Parts Trading Up 0.5 %

Shares of GPC stock opened at $137.74 on Tuesday. The company has a 50 day moving average of $139.66 and a 200-day moving average of $145.17. 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 12-month low of $126.35 and a 12-month high of $164.45. The firm has a market cap of $19.19 billion, a P/E ratio of 15.36 and a beta of 0.90.

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

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 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.