Securian Asset Management Inc. lifted its holdings in Genuine Parts (NYSE:GPC – Free Report) by 1.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,934 shares of the specialty retailer’s stock after purchasing an additional 215 shares during the period. Securian Asset Management Inc.’s holdings in Genuine Parts were worth $1,997,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Genuine Parts by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,056 shares of the specialty retailer’s stock worth $2,401,000 after purchasing an additional 1,180 shares in the last quarter. Cibc World Market Inc. increased its position in Genuine Parts by 14.8% in the first quarter. Cibc World Market Inc. now owns 2,740 shares of the specialty retailer’s stock worth $345,000 after buying an additional 354 shares in the last quarter. Sei Investments Co. increased its position in Genuine Parts by 9.4% in the first quarter. Sei Investments Co. now owns 50,928 shares of the specialty retailer’s stock worth $6,448,000 after buying an additional 4,372 shares in the last quarter. Aviva PLC lifted its position in shares of Genuine Parts by 63.1% during the 1st quarter. Aviva PLC now owns 78,951 shares of the specialty retailer’s stock valued at $9,949,000 after buying an additional 30,545 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its stake in shares of Genuine Parts by 195.1% during the 1st quarter. Allianz Asset Management GmbH now owns 114,328 shares of the specialty retailer’s stock valued at $14,408,000 after acquiring an additional 75,591 shares during the period. Hedge funds and other institutional investors own 80.67% of the company’s stock.
Genuine Parts Price Performance
Shares of Genuine Parts stock opened at $165.94 on Friday. The firm has a market cap of $23.32 billion, a PE ratio of 19.01, a PEG ratio of 2.03 and a beta of 0.91. The stock has a 50 day moving average of $162.48 and a 200 day moving average of $166.45. The company has a current ratio of 1.16, a quick ratio of 0.58 and a debt-to-equity ratio of 0.79. Genuine Parts has a 12 month low of $137.14 and a 12 month high of $187.73.
Genuine Parts Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Friday, June 2nd were issued a $0.95 dividend. The ex-dividend date was Thursday, June 1st. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.29%. Genuine Parts’s dividend payout ratio (DPR) is presently 43.53%.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on GPC shares. The Goldman Sachs Group upgraded shares of Genuine Parts from a “sell” rating to a “neutral” rating and raised their target price for the stock from $163.00 to $164.00 in a research note on Monday, May 1st. They noted that the move was a valuation call. Truist Financial boosted their price objective on Genuine Parts from $186.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, April 21st. StockNews.com upgraded Genuine Parts from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 30th. Wedbush reissued a “neutral” rating and issued a $165.00 price target on shares of Genuine Parts in a report on Friday, April 21st. Finally, Northcoast Research assumed coverage on shares of Genuine Parts in a report on Wednesday, June 28th. They set a “buy” rating and a $195.00 price objective for the company. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Genuine Parts presently has an average rating of “Moderate Buy” and an average target price of $181.60.
Insider Activity
In related news, insider Randall P. Breaux purchased 500 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was bought at an average price of $149.44 per share, for a total transaction of $74,720.00. Following the completion of the transaction, the insider now owns 20,523 shares in the company, valued at approximately $3,066,957.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.39% of the company’s stock.
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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