Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $3.45 Million Stock Position in Genuine Parts (NYSE:GPC)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its position in shares of Genuine Parts (NYSE:GPC) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,563 shares of the specialty retailer’s stock after selling 765 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Genuine Parts were worth $3,452,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Kestra Investment Management LLC acquired a new position in shares of Genuine Parts during the fourth quarter worth $28,000. First Command Advisory Services Inc. acquired a new position in shares of Genuine Parts during the fourth quarter worth $28,000. Compass Planning Associates Inc acquired a new position in shares of Genuine Parts during the fourth quarter worth $29,000. Synergy Asset Management LLC acquired a new position in shares of Genuine Parts during the fourth quarter worth $32,000. Finally, OFI Invest Asset Management acquired a new position in shares of Genuine Parts during the fourth quarter worth $34,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GPC shares. Evercore ISI lowered their price target on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Loop Capital initiated coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective on the stock. Truist Financial boosted their price objective on shares of Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Eight research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $137.63.

Genuine Parts Stock Performance

Shares of GPC opened at $118.93 on Monday. The company has a current ratio of 1.16, a quick ratio of 0.57 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $16.50 billion, a P/E ratio of 18.38 and a beta of 0.93. The firm’s fifty day simple moving average is $120.99 and its two-hundred day simple moving average is $124.58. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. The business had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same quarter in the prior year, the firm posted $2.26 earnings per share. As a group, analysts predict that Genuine Parts will post 7.9 EPS for the current year.

Genuine Parts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, March 7th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Friday, March 7th. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio is 63.68%.

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.