Gamco Investors INC. ET AL Cuts Stock Position in Genuine Parts (NYSE:GPC)

Gamco Investors INC. ET AL lessened its position in shares of Genuine Parts (NYSE:GPCGet Rating) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 742,878 shares of the specialty retailer’s stock after selling 9,415 shares during the quarter. Genuine Parts comprises 0.8% of Gamco Investors INC. ET AL’s holdings, making the stock its 18th biggest position. Gamco Investors INC. ET AL owned 0.52% of Genuine Parts worth $93,617,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Genuine Parts in the 4th quarter worth $184,165,000. Vanguard Group Inc. boosted its holdings in Genuine Parts by 2.9% in the first quarter. Vanguard Group Inc. now owns 17,088,101 shares of the specialty retailer’s stock worth $2,153,442,000 after acquiring an additional 481,039 shares in the last quarter. State Street Corp grew its stake in shares of Genuine Parts by 3.6% during the fourth quarter. State Street Corp now owns 8,081,541 shares of the specialty retailer’s stock worth $1,139,431,000 after acquiring an additional 284,554 shares during the last quarter. Panagora Asset Management Inc. grew its stake in shares of Genuine Parts by 926.1% during the first quarter. Panagora Asset Management Inc. now owns 213,771 shares of the specialty retailer’s stock worth $26,939,000 after acquiring an additional 192,938 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Genuine Parts by 4.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,860,574 shares of the specialty retailer’s stock valued at $612,531,000 after acquiring an additional 185,529 shares in the last quarter. 78.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GPC. StockNews.com downgraded shares of Genuine Parts from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 9th. Wedbush upped their target price on Genuine Parts from $140.00 to $150.00 in a research report on Thursday, July 28th. Finally, Evercore ISI reduced their target price on Genuine Parts to $135.00 in a research note on Thursday, June 9th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Genuine Parts presently has an average rating of “Hold” and an average price target of $140.20.

Genuine Parts Trading Down 3.2 %

GPC stock opened at $157.94 on Wednesday. The firm has a market cap of $22.34 billion, a P/E ratio of 20.46, a PEG ratio of 2.04 and a beta of 0.97. Genuine Parts has a 52-week low of $115.63 and a 52-week high of $164.99. The company’s 50-day simple moving average is $151.29 and its 200-day simple moving average is $138.10. The company has a quick ratio of 0.58, a current ratio of 1.17 and a debt-to-equity ratio of 0.90.

Genuine Parts (NYSE:GPCGet Rating) last posted its quarterly earnings data on Wednesday, July 27th. The specialty retailer reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. The company had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.30 billion. Genuine Parts had a return on equity of 31.67% and a net margin of 5.38%. Genuine Parts’s revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.74 EPS. As a group, equities analysts forecast that Genuine Parts will post 7.97 EPS for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be given a dividend of $0.895 per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $3.58 dividend on an annualized basis and a yield of 2.27%. Genuine Parts’s payout ratio is presently 46.37%.

Genuine Parts Profile

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Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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