Illinois Municipal Retirement Fund Purchases 6,068 Shares of Genuine Parts Company $GPC

Illinois Municipal Retirement Fund raised its position in Genuine Parts Company (NYSE:GPC) by 8.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 80,285 shares of the specialty retailer’s stock after acquiring an additional 6,068 shares during the period. Illinois Municipal Retirement Fund’s holdings in Genuine Parts were worth $11,128,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of GPC. ICW Investment Advisors LLC increased its position in shares of Genuine Parts by 1.0% during the third quarter. ICW Investment Advisors LLC now owns 9,205 shares of the specialty retailer’s stock valued at $1,276,000 after purchasing an additional 87 shares during the period. Rhumbline Advisers boosted its stake in Genuine Parts by 0.5% during the third quarter. Rhumbline Advisers now owns 271,393 shares of the specialty retailer’s stock worth $37,615,000 after buying an additional 1,228 shares in the last quarter. Stratos Wealth Partners LTD. increased its holdings in Genuine Parts by 27.4% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 3,530 shares of the specialty retailer’s stock valued at $489,000 after buying an additional 759 shares during the period. MQS Management LLC acquired a new position in shares of Genuine Parts in the 3rd quarter valued at $566,000. Finally, Versor Investments LP bought a new position in shares of Genuine Parts during the 3rd quarter worth about $263,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 1.5%

NYSE GPC opened at $146.97 on Friday. The firm has a market cap of $20.45 billion, a PE ratio of 25.30 and a beta of 0.74. Genuine Parts Company has a one year low of $104.01 and a one year high of $151.57. The stock’s 50 day simple moving average is $133.03 and its 200 day simple moving average is $133.42. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.14 and a quick ratio of 0.51.

Genuine Parts Dividend Announcement

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

Analysts Set New Price Targets

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

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.