Quantbot Technologies LP Raises Stock Holdings in Genuine Parts (NYSE:GPC)

Quantbot Technologies LP lifted its holdings in shares of Genuine Parts (NYSE:GPC) by 2.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,367 shares of the specialty retailer’s stock after acquiring an additional 732 shares during the quarter. Quantbot Technologies LP’s holdings in Genuine Parts were worth $4,102,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GPC. Miramar Capital LLC boosted its holdings in shares of Genuine Parts by 9.8% in the third quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock worth $12,264,000 after acquiring an additional 7,845 shares during the period. Conning Inc. boosted its holdings in shares of Genuine Parts by 8.2% in the third quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock worth $36,499,000 after acquiring an additional 19,795 shares during the period. WD Rutherford LLC boosted its holdings in shares of Genuine Parts by 4,265.9% in the third quarter. WD Rutherford LLC now owns 7,422 shares of the specialty retailer’s stock worth $1,037,000 after acquiring an additional 7,252 shares during the period. Comerica Bank boosted its holdings in shares of Genuine Parts by 19.6% in the first quarter. Comerica Bank now owns 113,657 shares of the specialty retailer’s stock worth $17,609,000 after acquiring an additional 18,657 shares during the period. Finally, Hamlin Capital Management LLC boosted its holdings in shares of Genuine Parts by 12.3% in the third quarter. Hamlin Capital Management LLC now owns 591,075 shares of the specialty retailer’s stock worth $82,561,000 after acquiring an additional 64,520 shares during the period. 78.83% of the stock is owned by institutional investors.

Genuine Parts Stock Down 1.2 %

GPC opened at $127.88 on Wednesday. The company has a market cap of $17.78 billion, a P/E ratio of 16.46 and a beta of 0.92. The business’s 50-day moving average price is $129.29 and its 200-day moving average price is $136.96. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45.

Genuine Parts (NYSE:GPC) last posted its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.49 earnings per share. On average, equities analysts expect that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 6th will be paid a $1.00 dividend. The ex-dividend date is Friday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.13%. Genuine Parts’s payout ratio is presently 51.48%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group lowered their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Truist Financial lowered their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Finally, Wedbush lowered their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $139.57.

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.