Lumature Wealth Partners LLC decreased its holdings in shares of Genuine Parts (NYSE:GPC – Get Rating) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,927 shares of the specialty retailer’s stock after selling 102 shares during the quarter. Lumature Wealth Partners LLC’s holdings in Genuine Parts were worth $334,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Mercer Global Advisors Inc. ADV grew its holdings in shares of Genuine Parts by 55.6% during the third quarter. Mercer Global Advisors Inc. ADV now owns 37,288 shares of the specialty retailer’s stock worth $5,515,000 after buying an additional 13,323 shares in the last quarter. Creative Planning grew its holdings in shares of Genuine Parts by 0.5% during the fourth quarter. Creative Planning now owns 45,649 shares of the specialty retailer’s stock worth $7,921,000 after buying an additional 208 shares in the last quarter. Prudential PLC grew its holdings in shares of Genuine Parts by 69.3% during the fourth quarter. Prudential PLC now owns 10,269 shares of the specialty retailer’s stock worth $1,782,000 after buying an additional 4,202 shares in the last quarter. Baird Financial Group Inc. grew its holdings in shares of Genuine Parts by 4.4% during the third quarter. Baird Financial Group Inc. now owns 264,609 shares of the specialty retailer’s stock worth $39,512,000 after buying an additional 11,256 shares in the last quarter. Finally, Retirement Systems of Alabama grew its holdings in shares of Genuine Parts by 15.0% during the fourth quarter. Retirement Systems of Alabama now owns 132,459 shares of the specialty retailer’s stock worth $22,983,000 after buying an additional 17,283 shares in the last quarter. Hedge funds and other institutional investors own 78.14% of the company’s stock.
Genuine Parts Trading Up 1.5 %
NYSE GPC opened at $158.13 on Tuesday. The firm’s 50-day moving average is $163.68 and its two-hundred day moving average is $169.03. Genuine Parts has a 12 month low of $126.95 and a 12 month high of $187.73. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.16 and a quick ratio of 0.58. The stock has a market capitalization of $22.22 billion, a P/E ratio of 18.11, a PEG ratio of 1.93 and a beta of 0.89.
Genuine Parts Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Friday, June 2nd will be given a dividend of $0.95 per share. The ex-dividend date is Thursday, June 1st. This represents a $3.80 annualized dividend and a dividend yield of 2.40%. Genuine Parts’s dividend payout ratio is presently 43.53%.
Insider Transactions at Genuine Parts
In other Genuine Parts news, CEO Paul D. Donahue purchased 1,600 shares of Genuine Parts stock in a transaction dated Friday, March 24th. The shares were acquired at an average price of $156.08 per share, with a total value of $249,728.00. Following the completion of the transaction, the chief executive officer now owns 59,727 shares of the company’s stock, valued at $9,322,190.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Genuine Parts news, insider Randall P. Breaux purchased 500 shares of Genuine Parts stock in a transaction dated Thursday, June 1st. The shares were acquired at an average price of $149.44 per share, with a total value of $74,720.00. Following the completion of the transaction, the insider now owns 20,523 shares of the company’s stock, valued at $3,066,957.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Paul D. Donahue purchased 1,600 shares of Genuine Parts stock in a transaction dated Friday, March 24th. The shares were acquired at an average cost of $156.08 per share, for a total transaction of $249,728.00. Following the transaction, the chief executive officer now directly owns 59,727 shares of the company’s stock, valued at approximately $9,322,190.16. The disclosure for this purchase can be found here. Corporate insiders own 0.39% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on GPC. StockNews.com began coverage on shares of Genuine Parts in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Wedbush reissued a “neutral” rating and set a $165.00 price target on shares of Genuine Parts in a research report on Friday, April 21st. Truist Financial boosted their price target on shares of Genuine Parts from $186.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, April 21st. The Goldman Sachs Group raised shares of Genuine Parts from a “sell” rating to a “neutral” rating and boosted their price target for the company from $163.00 to $164.00 in a research report on Monday, May 1st. They noted that the move was a valuation call. Finally, Bank of America raised shares of Genuine Parts from a “neutral” rating to a “buy” rating and boosted their price target for the company from $185.00 to $189.00 in a research report on Thursday, June 1st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $178.25.
Genuine Parts Company Profile
Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.
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