Quantbot Technologies LP Purchases 732 Shares of Genuine Parts (NYSE:GPC)

Quantbot Technologies LP lifted its stake in Genuine Parts (NYSE:GPC) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,367 shares of the specialty retailer’s stock after purchasing an additional 732 shares during the quarter. Quantbot Technologies LP’s holdings in Genuine Parts were worth $4,102,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in GPC. Ashton Thomas Securities LLC bought a new stake in shares of Genuine Parts in the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP purchased a new position in Genuine Parts in the 3rd quarter worth approximately $31,000. Concord Wealth Partners raised its holdings in Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 119 shares during the last quarter. Triad Wealth Partners LLC purchased a new position in Genuine Parts in the 2nd quarter worth approximately $40,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Genuine Parts in the 3rd quarter worth approximately $44,000. 78.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. UBS Group decreased their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Truist Financial decreased their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Finally, Evercore ISI boosted their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $139.57.

Genuine Parts Trading Down 1.2 %

Shares of GPC stock opened at $127.88 on Wednesday. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The firm has a fifty day moving average price of $129.29 and a 200-day moving average price of $136.96. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The company has a market cap of $17.78 billion, a price-to-earnings ratio of 16.46 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.54). The firm 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 company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.49 EPS. As a group, equities analysts predict that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Dividend Announcement

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

About Genuine Parts

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.