Genuine Parts Company (NYSE:GPC) Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its position in Genuine Parts Company (NYSE:GPC) by 5.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 67,026 shares of the specialty retailer’s stock after acquiring an additional 3,288 shares during the period. Illinois Municipal Retirement Fund’s holdings in Genuine Parts were worth $7,985,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GPC. Millstone Evans Group LLC acquired a new stake in shares of Genuine Parts in the fourth quarter valued at $25,000. First Command Advisory Services Inc. acquired a new stake in shares of Genuine Parts during the fourth quarter worth $28,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Genuine Parts during the fourth quarter worth $33,000. OFI Invest Asset Management acquired a new stake in shares of Genuine Parts during the fourth quarter worth $34,000. Finally, Investors Research Corp raised its position in shares of Genuine Parts by 75.3% during the first quarter. Investors Research Corp now owns 291 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Stock Up 1.2%

NYSE:GPC opened at $120.47 on Friday. The firm has a market capitalization of $16.72 billion, a price-to-earnings ratio of 19.78 and a beta of 0.76. Genuine Parts Company has a 1-year low of $104.01 and a 1-year high of $149.22. The company has a current ratio of 1.15, a quick ratio of 0.52 and a debt-to-equity ratio of 0.85. The business’s fifty day moving average price is $121.89 and its 200 day moving average price is $119.86.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.09. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.83 billion. Genuine Parts had a return on equity of 23.71% and a net margin of 3.60%. On average, sell-side analysts forecast that Genuine Parts Company will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.42%. The ex-dividend date is Friday, June 6th. Genuine Parts’s payout ratio is currently 67.65%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on GPC shares. Argus raised Genuine Parts to a “strong-buy” rating in a research report on Friday, April 25th. Truist Financial boosted their target price on Genuine Parts from $133.00 to $137.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $114.00 target price (down from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. Evercore ISI cut their target price on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Finally, Wall Street Zen lowered Genuine Parts from a “buy” rating to a “hold” rating in a research report on Saturday, April 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.86.

Genuine Parts Company 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.