Genuine Parts (NYSE:GPC) Shares Purchased by Great Lakes Retirement Inc.

Great Lakes Retirement Inc. raised its stake in shares of Genuine Parts (NYSE:GPC) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,111 shares of the specialty retailer’s stock after acquiring an additional 142 shares during the period. Great Lakes Retirement Inc.’s holdings in Genuine Parts were worth $1,190,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of GPC. Ashton Thomas Securities LLC acquired a new stake in shares of Genuine Parts during the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new stake in Genuine Parts during the third quarter valued at $31,000. Synergy Asset Management LLC purchased a new position in Genuine Parts in the fourth quarter valued at $32,000. Concord Wealth Partners raised its position in shares of 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 acquiring an additional 119 shares during the period. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Genuine Parts during the 3rd quarter worth about $44,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the transaction, the director now owns 11,357 shares in the company, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.37% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wedbush cut 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. Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Loop Capital started coverage on Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price target on the stock. Finally, Truist Financial dropped their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and a consensus target price of $141.50.

Genuine Parts Stock Up 2.8 %

Shares of NYSE GPC opened at $121.75 on Wednesday. The business has a 50-day moving average of $118.41 and a two-hundred day moving average of $128.07. The company has a market capitalization of $16.93 billion, a price-to-earnings ratio of 15.67 and a beta of 0.94. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57.

Genuine Parts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were paid a $1.00 dividend. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.29%. Genuine Parts’s dividend payout ratio is currently 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.