New Mexico Educational Retirement Board Has $773,000 Stake in Genuine Parts (NYSE:GPC)

New Mexico Educational Retirement Board trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,621 shares of the specialty retailer’s stock after selling 200 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Genuine Parts were worth $773,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in Genuine Parts during the third quarter worth $26,000. Capital Performance Advisors LLP acquired a new position in Genuine Parts during the third quarter worth $31,000. Concord Wealth Partners increased its position in Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after buying an additional 119 shares during the last quarter. Synergy Asset Management LLC acquired a new position in Genuine Parts during the fourth quarter worth $32,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Genuine Parts during the third quarter worth $44,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on GPC. UBS Group lowered their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research report on Monday, November 11th. The Goldman Sachs Group lowered their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Loop Capital began coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target on the stock. Finally, Truist Financial lowered their price target 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. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $141.50.

Genuine Parts Stock Down 2.5 %

NYSE GPC opened at $121.72 on Wednesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The firm has a 50-day simple moving average of $118.27 and a 200 day simple moving average of $127.34. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The stock has a market cap of $16.92 billion, a PE ratio of 15.67 and a beta of 0.94.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. During the same quarter in the previous year, the business earned $2.26 earnings per share. On average, research analysts forecast that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, March 7th will be paid a dividend of $1.03 per share. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 dividend on an annualized basis and a yield of 3.38%. Genuine Parts’s dividend payout ratio (DPR) is currently 51.48%.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the transaction, the director now owns 11,357 shares in the company, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.37% of the company’s stock.

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.