State of New Jersey Common Pension Fund D Has $7.04 Million Stock Position in Genuine Parts (NYSE:GPC)

State of New Jersey Common Pension Fund D lessened its stake in Genuine Parts (NYSE:GPC) by 1.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,394 shares of the specialty retailer’s stock after selling 623 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Genuine Parts were worth $7,039,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in Genuine Parts in the 3rd quarter worth about $31,000. Concord Wealth Partners grew its position in shares of Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after buying an additional 119 shares during the period. Triad Wealth Partners LLC acquired a new stake in shares of Genuine Parts in the 2nd quarter valued at about $40,000. Catalyst Capital Advisors LLC bought a new stake in shares of Genuine Parts during the third quarter worth about $44,000. Finally, Rosenberg Matthew Hamilton raised its stake in shares of Genuine Parts by 92.2% in the second quarter. Rosenberg Matthew Hamilton now owns 371 shares of the specialty retailer’s stock worth $50,000 after purchasing an additional 178 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Trading Down 0.0 %

Shares of GPC stock opened at $122.36 on Tuesday. The company has a market capitalization of $17.01 billion, a PE ratio of 15.75 and a beta of 0.92. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The business’s fifty day moving average is $132.05 and its 200 day moving average is $139.31. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17.

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

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.27%. The ex-dividend date was Friday, September 6th. Genuine Parts’s dividend payout ratio (DPR) is currently 51.48%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GPC. JPMorgan Chase & Co. decreased their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Wedbush dropped their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. UBS Group reduced their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Finally, The Goldman Sachs Group cut their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Genuine Parts has an average rating of “Hold” and an average price target of $139.57.

Genuine Parts Company 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.