Teachers Retirement System of The State of Kentucky Has $1.46 Million Stock Holdings in Genuine Parts (NYSE:GPC)

Teachers Retirement System of The State of Kentucky reduced its holdings in shares of Genuine Parts (NYSE:GPC) by 6.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,442 shares of the specialty retailer’s stock after selling 696 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Genuine Parts were worth $1,459,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in Genuine Parts during the third quarter valued at approximately $26,000. Capital Performance Advisors LLP bought a new position in shares of Genuine Parts during the 3rd quarter worth approximately $31,000. Concord Wealth Partners boosted its stake in Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 119 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in Genuine Parts in the third quarter valued at $44,000. Finally, Armstrong Advisory Group Inc. raised its stake in Genuine Parts by 63.8% during the third quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock worth $51,000 after acquiring an additional 141 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 0.1 %

Shares of GPC opened at $118.47 on Wednesday. The firm has a market capitalization of $16.47 billion, a price-to-earnings ratio of 15.25 and a beta of 0.94. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. 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 business’s fifty day moving average price is $124.91 and its two-hundred day moving average price is $134.18.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. During the same period last year, the business posted $2.49 EPS. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, analysts predict that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be given a $1.00 dividend. The ex-dividend date is Friday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.38%. Genuine Parts’s dividend payout ratio is currently 51.48%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GPC shares. Evercore ISI boosted their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Wedbush cut their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Finally, UBS Group dropped their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $139.57.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the transaction, the director now owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.37% of the stock is owned by insiders.

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.