Genuine Parts Company $GPC Position Increased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its position in shares of Genuine Parts Company (NYSE:GPC) by 8.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,285 shares of the specialty retailer’s stock after purchasing an additional 6,068 shares during the period. Illinois Municipal Retirement Fund owned 0.06% of Genuine Parts worth $11,128,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its stake in shares of Genuine Parts by 4.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 549,830 shares of the specialty retailer’s stock worth $76,206,000 after purchasing an additional 21,820 shares during the last quarter. Synergy Asset Management LLC boosted its holdings in Genuine Parts by 272.7% in the third quarter. Synergy Asset Management LLC now owns 108,028 shares of the specialty retailer’s stock worth $14,706,000 after purchasing an additional 79,044 shares in the last quarter. Caldwell Trust Co acquired a new position in Genuine Parts during the second quarter worth $3,323,000. Prudential Financial Inc. raised its holdings in Genuine Parts by 5.8% during the second quarter. Prudential Financial Inc. now owns 79,557 shares of the specialty retailer’s stock valued at $9,651,000 after buying an additional 4,374 shares in the last quarter. Finally, Independent Advisor Alliance raised its holdings in Genuine Parts by 17.7% during the third quarter. Independent Advisor Alliance now owns 34,368 shares of the specialty retailer’s stock valued at $4,763,000 after buying an additional 5,165 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on GPC shares. Evercore ISI set a $175.00 price target on Genuine Parts in a research note on Wednesday. Weiss Ratings restated a “hold (c-)” rating on shares of Genuine Parts in a report on Monday, December 29th. The Goldman Sachs Group raised Genuine Parts from a “sell” rating to a “neutral” rating and upped their target price for the stock from $130.00 to $142.00 in a research report on Thursday, November 13th. JPMorgan Chase & Co. increased their price target on Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Finally, Truist Financial lifted their price target on shares of Genuine Parts from $146.00 to $162.00 and gave the company a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Genuine Parts currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.14.

Genuine Parts Stock Performance

GPC opened at $146.97 on Friday. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.78. The stock’s 50 day moving average price is $133.03 and its two-hundred day moving average price is $133.42. The firm has a market capitalization of $20.45 billion, a P/E ratio of 25.30 and a beta of 0.74. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $151.57.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Friday, December 5th were issued a $1.03 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $4.12 dividend on an annualized basis and a yield of 2.8%. Genuine Parts’s dividend payout ratio is 70.91%.

Genuine Parts Profile

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.