Marks Group Wealth Management Inc Reduces Holdings in Genuine Parts (NYSE:GPC)

Marks Group Wealth Management Inc lessened its holdings in Genuine Parts (NYSE:GPC) by 2.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,754 shares of the specialty retailer’s stock after selling 367 shares during the period. Marks Group Wealth Management Inc’s holdings in Genuine Parts were worth $1,606,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. International Assets Investment Management LLC lifted its stake in Genuine Parts by 14,222.1% in the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after buying an additional 580,262 shares in the last quarter. State Street Corp raised its holdings in shares of Genuine Parts by 5.4% in the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock worth $1,103,300,000 after acquiring an additional 401,180 shares during the last quarter. Boston Trust Walden Corp purchased a new stake in shares of Genuine Parts in the third quarter valued at $39,474,000. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Genuine Parts by 1,038.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer’s stock valued at $38,803,000 after acquiring an additional 253,400 shares in the last quarter. Finally, Synovus Financial Corp increased its position in Genuine Parts by 95.4% during the 3rd quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer’s stock worth $54,708,000 after purchasing an additional 191,272 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GPC has been the topic of a number of recent research reports. Loop Capital assumed coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price on the stock. Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. lowered their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Truist Financial cut their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, UBS Group decreased their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $141.50.

Genuine Parts Stock Up 0.4 %

Shares of NYSE GPC opened at $122.13 on Thursday. The stock has a market capitalization of $16.98 billion, a PE ratio of 15.72 and a beta of 0.94. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The firm has a fifty day moving average of $118.33 and a 200-day moving average of $128.03. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the sale, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.37% of the stock is currently owned by insiders.

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.