New York State Teachers Retirement System Has $12.54 Million Stake in Genuine Parts Company (NYSE:GPC)

New York State Teachers Retirement System reduced its stake in Genuine Parts Company (NYSE:GPC) by 2.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 105,288 shares of the specialty retailer’s stock after selling 3,001 shares during the quarter. New York State Teachers Retirement System’s holdings in Genuine Parts were worth $12,544,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in Genuine Parts by 12.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer’s stock valued at $198,338,000 after acquiring an additional 182,965 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in Genuine Parts by 436.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer’s stock valued at $3,672,000 after buying an additional 25,583 shares during the period. Parvin Asset Management LLC bought a new position in Genuine Parts in the 4th quarter valued at about $1,320,000. FORA Capital LLC raised its position in shares of Genuine Parts by 410.9% in the 4th quarter. FORA Capital LLC now owns 26,332 shares of the specialty retailer’s stock valued at $3,075,000 after buying an additional 21,178 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Genuine Parts during the 4th quarter worth approximately $57,407,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Argus raised shares of Genuine Parts to a “strong-buy” rating in a research note on Friday, April 25th. The Goldman Sachs Group reiterated a “sell” rating and issued a $114.00 price target (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Wall Street Zen downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research report on Saturday, April 26th. Truist Financial raised their price objective on Genuine Parts from $133.00 to $137.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Finally, Evercore ISI dropped their target price on shares of Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. 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 issued a strong buy rating to the company. According to MarketBeat, Genuine Parts currently has an average rating of “Moderate Buy” and an average price target of $130.86.

Genuine Parts Trading Down 0.0%

GPC opened at $127.41 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.15 and a quick ratio of 0.52. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $149.22. The company’s 50 day moving average price is $122.72 and its two-hundred day moving average price is $119.98. The firm has a market capitalization of $17.68 billion, a price-to-earnings ratio of 20.92 and a beta of 0.74.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.09. The company had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.83 billion. Genuine Parts had a net margin of 3.60% and a return on equity of 23.71%. As a group, research analysts predict that Genuine Parts Company will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th were given a dividend of $1.03 per share. The ex-dividend date was Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.23%. Genuine Parts’s dividend payout ratio (DPR) is 67.65%.

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.