Genuine Parts (NYSE:GPC) Shares Purchased by Invesco LLC

Invesco LLC boosted its stake in Genuine Parts (NYSE:GPC) by 2.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 16,189 shares of the specialty retailer’s stock after buying an additional 366 shares during the quarter. Invesco LLC’s holdings in Genuine Parts were worth $1,890,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GPC. Ashton Thomas Securities LLC purchased a new stake in shares of Genuine Parts during the third quarter worth approximately $26,000. Capital Performance Advisors LLP purchased a new stake in shares of Genuine Parts during the third quarter worth $31,000. Concord Wealth Partners lifted its stake in shares of Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after buying an additional 119 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new position in Genuine Parts during the third quarter worth about $44,000. Finally, First Financial Corp IN purchased a new stake in Genuine Parts during the 4th quarter valued at about $44,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GPC. The Goldman Sachs Group dropped their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Wedbush cut their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Truist Financial cut their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $141.50.

Genuine Parts Stock Down 0.1 %

Genuine Parts stock traded down $0.12 during midday trading on Wednesday, reaching $117.19. The company’s stock had a trading volume of 287,735 shares, compared to its average volume of 1,433,119. The business has a 50-day simple moving average of $120.06 and a 200-day simple moving average of $129.61. The company has a market cap of $16.29 billion, a P/E ratio of 15.08 and a beta of 0.95. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81.

Genuine Parts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were paid a $1.00 dividend. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.41%. Genuine Parts’s dividend payout ratio is currently 51.48%.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the sale, the director now directly owns 11,357 shares of the company’s stock, valued at $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.37% of the stock is owned by corporate insiders.

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.