Axa S.A. Reduces Position in Genuine Parts (NYSE:GPC)

Axa S.A. decreased its position in Genuine Parts (NYSE:GPC) by 47.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,895 shares of the specialty retailer’s stock after selling 37,228 shares during the period. Axa S.A.’s holdings in Genuine Parts were worth $5,795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. lifted its holdings in shares of Genuine Parts by 109.1% during the fourth quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock worth $25,000 after purchasing an additional 96 shares during the period. WD Rutherford LLC acquired a new stake in shares of Genuine Parts in the first quarter worth $26,000. Union Savings Bank increased its stake in shares of Genuine Parts by 100.0% in the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after acquiring an additional 100 shares during the period. Thompson Investment Management Inc. acquired a new position in Genuine Parts during the first quarter valued at $35,000. Finally, Stephens Consulting LLC boosted its holdings in Genuine Parts by 740.7% in the first quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wedbush reduced their price objective on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. UBS Group decreased their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, July 3rd. Truist Financial restated a “buy” rating and issued a $164.00 price objective on shares of Genuine Parts in a research report on Wednesday, August 28th. Evercore ISI cut their target price on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating for the company in a report on Wednesday, July 24th. Finally, StockNews.com raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Saturday, September 7th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Genuine Parts currently has an average rating of “Hold” and a consensus target price of $161.14.

Genuine Parts Trading Down 0.2 %

Shares of GPC stock opened at $141.24 on Friday. The stock has a 50 day simple moving average of $139.60 and a 200-day simple moving average of $144.87. Genuine Parts has a 1-year low of $126.35 and a 1-year high of $164.45. The company has a market cap of $19.67 billion, a price-to-earnings ratio of 15.75 and a beta of 0.90. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, July 23rd. The specialty retailer reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.59 by ($0.15). The company had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $2.44 earnings per share. On average, equities research analysts expect that Genuine Parts will post 9.37 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be paid a dividend of $1.00 per share. The ex-dividend date is Friday, September 6th. This represents a $4.00 annualized dividend and a yield of 2.83%. Genuine Parts’s dividend payout ratio (DPR) is currently 44.59%.

Genuine Parts 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.