Flputnam Investment Management Co. bought a new position in shares of Genuine Parts (NYSE:GPC – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,228 shares of the specialty retailer’s stock, valued at approximately $205,000.
Other large investors have also made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Genuine Parts by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,056 shares of the specialty retailer’s stock valued at $2,401,000 after purchasing an additional 1,180 shares during the period. Cibc World Market Inc. lifted its holdings in shares of Genuine Parts by 14.8% during the 1st quarter. Cibc World Market Inc. now owns 2,740 shares of the specialty retailer’s stock worth $345,000 after acquiring an additional 354 shares during the period. Sei Investments Co. boosted its position in shares of Genuine Parts by 9.4% during the 1st quarter. Sei Investments Co. now owns 50,928 shares of the specialty retailer’s stock valued at $6,448,000 after acquiring an additional 4,372 shares in the last quarter. Aviva PLC increased its stake in Genuine Parts by 63.1% in the first quarter. Aviva PLC now owns 78,951 shares of the specialty retailer’s stock valued at $9,949,000 after acquiring an additional 30,545 shares during the period. Finally, Allianz Asset Management GmbH raised its position in Genuine Parts by 195.1% in the first quarter. Allianz Asset Management GmbH now owns 114,328 shares of the specialty retailer’s stock worth $14,408,000 after purchasing an additional 75,591 shares in the last quarter. Institutional investors and hedge funds own 80.67% of the company’s stock.
Genuine Parts Trading Up 0.7 %
Shares of NYSE GPC opened at $165.94 on Monday. Genuine Parts has a 1-year low of $137.14 and a 1-year high of $187.73. The company has a 50-day moving average of $162.48 and a two-hundred day moving average of $166.38. The company has a market cap of $23.32 billion, a PE ratio of 19.01, a P/E/G ratio of 2.05 and a beta of 0.91. 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 Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Friday, June 2nd were issued a dividend of $0.95 per share. The ex-dividend date was Thursday, June 1st. This represents a $3.80 annualized dividend and a yield of 2.29%. Genuine Parts’s dividend payout ratio is currently 43.53%.
Insider Buying and Selling at Genuine Parts
In other Genuine Parts news, insider Randall P. Breaux purchased 500 shares of the stock in a transaction dated 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 transaction, 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 accessible through this link. Corporate insiders own 0.39% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on GPC shares. StockNews.com upgraded Genuine Parts from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 30th. Wedbush reiterated a “neutral” rating and set a $165.00 price objective on shares of Genuine Parts in a research note on Friday, April 21st. The Goldman Sachs Group upgraded shares of Genuine Parts from a “sell” rating to a “neutral” rating and increased their target price for the stock from $163.00 to $164.00 in a research report on Monday, May 1st. They noted that the move was a valuation call. Bank of America upgraded 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. Finally, 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 report on Friday, April 21st. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $181.60.
About Genuine Parts
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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