Machina Capital S.A.S. Cuts Holdings in Genuine Parts (NYSE:GPC)

Machina Capital S.A.S. cut its position in shares of Genuine Parts (NYSE:GPC) by 15.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,051 shares of the specialty retailer’s stock after selling 1,522 shares during the quarter. Machina Capital S.A.S.’s holdings in Genuine Parts were worth $1,115,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GPC. OFI Invest Asset Management purchased a new position in Genuine Parts during the third quarter worth about $25,000. Briaud Financial Planning Inc purchased a new position in Genuine Parts during the third quarter worth about $28,000. Milestone Investment Advisors LLC purchased a new position in Genuine Parts during the third quarter worth about $28,000. Authentikos Wealth Advisory LLC purchased a new position in Genuine Parts during the third quarter worth about $40,000. Finally, Orion Capital Management LLC purchased a new position in Genuine Parts during the third quarter worth about $42,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Trading Down 1.1 %

GPC traded down $1.77 during trading on Tuesday, hitting $154.92. 1,173,755 shares of the stock traded hands, compared to its average volume of 1,056,687. The firm has a market capitalization of $21.58 billion, a P/E ratio of 17.47 and a beta of 0.94. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. The firm has a 50-day moving average of $153.56 and a 200 day moving average of $143.43. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $174.91.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.07. Genuine Parts had a net margin of 5.46% and a return on equity of 30.92%. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the prior year, the company posted $2.14 EPS. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. Equities research analysts anticipate that Genuine Parts will post 9.94 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be given a $1.00 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.00 annualized dividend and a dividend yield of 2.58%. Genuine Parts’s dividend payout ratio is 44.59%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GPC shares. Wedbush reiterated a “neutral” rating and issued a $170.00 target price (up from $140.00) on shares of Genuine Parts in a research note on Friday, April 19th. StockNews.com upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Truist Financial boosted their target price on shares of Genuine Parts from $167.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Jefferies Financial Group boosted their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Finally, Evercore ISI dropped their price target on shares of Genuine Parts from $160.00 to $155.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $173.10.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 3,250 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $154.92, for a total value of $503,490.00. Following the completion of the sale, the director now directly owns 14,397 shares of the company’s stock, valued at approximately $2,230,383.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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.