Naples Global Advisors LLC Buys 4,686 Shares of Genuine Parts (NYSE:GPC)

Naples Global Advisors LLC increased its stake in shares of Genuine Parts (NYSE:GPC) by 34.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,464 shares of the specialty retailer’s stock after purchasing an additional 4,686 shares during the period. Naples Global Advisors LLC’s holdings in Genuine Parts were worth $2,173,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GPC. Ashton Thomas Securities LLC acquired a new position in shares of Genuine Parts during the 3rd quarter worth about $26,000. Capital Performance Advisors LLP acquired a new position in Genuine Parts during the third quarter valued at approximately $31,000. Synergy Asset Management LLC bought a new stake in Genuine Parts in the fourth quarter valued at approximately $32,000. Concord Wealth Partners raised its holdings in 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 purchasing an additional 119 shares during the period. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Genuine Parts in the 3rd quarter valued at $44,000. Institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

GPC has been the topic of several recent analyst reports. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Wedbush decreased their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Loop Capital began coverage on Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 target price for the company. UBS Group cut their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Genuine Parts has a consensus rating of “Hold” and an average target price of $141.50.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the sale, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.37% of the company’s stock.

Genuine Parts Stock Performance

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

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were given a dividend of $1.00 per share. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a 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.