Oak Thistle LLC acquired a new position in Genuine Parts (NYSE:GPC – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,319 shares of the specialty retailer’s stock, valued at approximately $221,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ballentine Partners LLC raised its stake in Genuine Parts by 4.4% in the first quarter. Ballentine Partners LLC now owns 4,625 shares of the specialty retailer’s stock valued at $774,000 after buying an additional 196 shares during the last quarter. Strs Ohio grew its stake in Genuine Parts by 7.6% during the 1st quarter. Strs Ohio now owns 14,365 shares of the specialty retailer’s stock valued at $2,403,000 after purchasing an additional 1,016 shares during the last quarter. Securian Asset Management Inc. grew its stake in Genuine Parts by 1.8% during the 1st quarter. Securian Asset Management Inc. now owns 11,934 shares of the specialty retailer’s stock valued at $1,997,000 after purchasing an additional 215 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Genuine Parts by 1.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 455,202 shares of the specialty retailer’s stock valued at $76,160,000 after acquiring an additional 7,240 shares during the period. Finally, First Trust Direct Indexing L.P. lifted its stake in Genuine Parts by 45.1% during the 1st quarter. First Trust Direct Indexing L.P. now owns 2,450 shares of the specialty retailer’s stock valued at $410,000 after acquiring an additional 762 shares during the period. 80.67% of the stock is currently owned by hedge funds and other institutional investors.
Genuine Parts Trading Up 0.7 %
GPC opened at $165.94 on Monday. The company has a quick ratio of 0.58, a current ratio of 1.16 and a debt-to-equity ratio of 0.79. The firm has a market cap of $23.32 billion, a P/E ratio of 19.01, a P/E/G ratio of 2.05 and a beta of 0.91. Genuine Parts has a 52 week low of $137.14 and a 52 week high of $187.73. The business has a fifty day simple moving average of $162.48 and a 200-day simple moving average of $166.38.
Genuine Parts Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Friday, June 2nd were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Thursday, June 1st. Genuine Parts’s payout ratio is currently 43.53%.
Insider Buying and Selling at Genuine Parts
In related news, insider Randall P. Breaux acquired 500 shares of Genuine Parts stock in a transaction on Thursday, June 1st. The stock was purchased at an average cost of $149.44 per share, with a total value of $74,720.00. Following the purchase, the insider now directly owns 20,523 shares in the company, valued at $3,066,957.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.39% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the company. StockNews.com upgraded Genuine Parts from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 30th. The Goldman Sachs Group raised shares of Genuine Parts from a “sell” rating to a “neutral” rating and raised their price objective 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. Wedbush reaffirmed a “neutral” rating and set a $165.00 price objective on shares of Genuine Parts in a research note on Friday, April 21st. Truist Financial raised their price objective on shares of Genuine Parts from $186.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, April 21st. Finally, Northcoast Research initiated coverage on shares of Genuine Parts in a research note on Wednesday, June 28th. They set a “buy” rating and a $195.00 target price on the stock. Two investment 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $181.60.
Genuine Parts 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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