Allianz Asset Management GmbH Lowers Holdings in Genuine Parts (NYSE:GPC)

Allianz Asset Management GmbH reduced its stake in shares of Genuine Parts (NYSE:GPCFree Report) by 64.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,698 shares of the specialty retailer’s stock after selling 28,323 shares during the quarter. Allianz Asset Management GmbH’s holdings in Genuine Parts were worth $2,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Assetmark Inc. grew its stake in Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 96 shares in the last quarter. Orion Capital Management LLC bought a new stake in shares of Genuine Parts in the third quarter worth about $42,000. Costello Asset Management INC lifted its position in shares of Genuine Parts by 200.0% in the fourth quarter. Costello Asset Management INC now owns 300 shares of the specialty retailer’s stock worth $42,000 after buying an additional 200 shares in the last quarter. HHM Wealth Advisors LLC bought a new position in Genuine Parts during the fourth quarter valued at approximately $46,000. Finally, BKM Wealth Management LLC purchased a new position in Genuine Parts during the 4th quarter valued at approximately $47,000. Institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on GPC. Jefferies Financial Group raised their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, April 19th. Evercore ISI reduced their target price on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a report on Tuesday, April 16th. Wedbush reaffirmed a “neutral” rating and issued a $170.00 price target (up previously from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. StockNews.com raised Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, May 24th. Finally, Truist Financial raised their price objective on Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Genuine Parts currently has an average rating of “Hold” and a consensus target price of $171.33.

Check Out Our Latest Analysis on Genuine Parts

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $145.19 on Friday. The company has a quick ratio of 0.59, a current ratio of 1.14 and a debt-to-equity ratio of 0.69. The stock’s fifty day moving average is $151.66 and its two-hundred day moving average is $145.97. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $170.57. The company has a market capitalization of $20.22 billion, a PE ratio of 16.19 and a beta of 0.92.

Genuine Parts (NYSE:GPCGet Free Report) last posted its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping the consensus estimate of $2.15 by $0.07. The company had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.84 billion. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.14 EPS. As a group, analysts expect that Genuine Parts will post 9.92 earnings per share for the current year.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.00 annualized dividend and a yield of 2.76%. Genuine Parts’s dividend payout ratio (DPR) is currently 44.59%.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 3,000 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total transaction of $453,870.00. Following the transaction, the director now owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Wendy B. Needham sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total value of $453,870.00. Following the completion of the sale, the director now owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wendy B. Needham sold 3,250 shares of Genuine Parts stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total transaction of $503,490.00. Following the transaction, the director now directly owns 14,397 shares in the company, valued at $2,230,383.24. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by company insiders.

Genuine Parts Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding GPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genuine Parts (NYSE:GPCFree Report).

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

Receive News & Ratings for Genuine Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genuine Parts and related companies with MarketBeat.com's FREE daily email newsletter.