Hamilton Point Investment Advisors LLC Boosts Stock Position in Genuine Parts (NYSE:GPC)

Hamilton Point Investment Advisors LLC grew its stake in Genuine Parts (NYSE:GPC) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,735 shares of the specialty retailer’s stock after purchasing an additional 569 shares during the period. Hamilton Point Investment Advisors LLC’s holdings in Genuine Parts were worth $4,090,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new position in Genuine Parts in the 3rd quarter valued at $26,000. Capital Performance Advisors LLP purchased a new stake in shares of Genuine Parts in the third quarter valued at about $31,000. Concord Wealth Partners increased its stake in shares of Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 119 shares during the period. Synergy Asset Management LLC purchased a new position in Genuine Parts during the fourth quarter worth about $32,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Genuine Parts in the third quarter valued at about $44,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

GPC has been the subject of a number of analyst reports. The Goldman Sachs Group reduced 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. Truist Financial reduced their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Loop Capital assumed coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. Finally, StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $141.50.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the sale, the director now directly owns 11,357 shares in the company, valued at $1,371,698.46. This represents a 12.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.37% of the stock is owned by corporate insiders.

Genuine Parts Price Performance

GPC stock opened at $118.12 on Friday. The stock’s 50 day moving average price is $119.88 and its 200 day moving average price is $129.44. The firm has a market cap of $16.42 billion, a P/E ratio of 15.20 and a beta of 0.95. 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 has a 1 year low of $112.74 and a 1 year high of $164.45.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.39%. Genuine Parts’s dividend payout ratio is currently 51.48%.

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.