Genuine Parts (NYSE:GPC) Stock Holdings Trimmed by Consolidated Planning Corp

Consolidated Planning Corp lowered its holdings in shares of Genuine Parts (NYSE:GPC) by 10.4% during the 4th quarter, Holdings Channel reports. The fund owned 7,480 shares of the specialty retailer’s stock after selling 867 shares during the period. Consolidated Planning Corp’s holdings in Genuine Parts were worth $873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in shares of Genuine Parts by 14,222.1% during the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after purchasing an additional 580,262 shares during the period. State Street Corp increased its position in shares of Genuine Parts by 5.4% during the 3rd quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock valued at $1,103,300,000 after purchasing an additional 401,180 shares during the period. Boston Trust Walden Corp acquired a new position in shares of Genuine Parts during the 3rd quarter valued at $39,474,000. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Genuine Parts by 1,038.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer’s stock valued at $38,803,000 after purchasing an additional 253,400 shares during the period. Finally, Synovus Financial Corp increased its position in shares of Genuine Parts by 95.4% during the 3rd quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer’s stock valued at $54,708,000 after purchasing an additional 191,272 shares during the period. Institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GPC shares. UBS Group lowered their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Loop Capital started coverage on Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price target on the stock. Truist Financial lowered their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. decreased their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Eight 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 company. According to MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and an average target price of $141.50.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was 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 owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.37% of the stock is currently owned by insiders.

Genuine Parts Stock Performance

Shares of Genuine Parts stock opened at $122.13 on Thursday. The stock has a market cap of $16.98 billion, a PE ratio of 15.72 and a beta of 0.94. The business has a fifty day simple moving average of $118.33 and a 200-day simple moving average of $128.03. 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 has a 12 month low of $112.74 and a 12 month high of $164.45.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were given a $1.00 dividend. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.28%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Genuine Parts 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.