Invesco LLC Acquires 366 Shares of Genuine Parts (NYSE:GPC)

Invesco LLC boosted its stake in shares of Genuine Parts (NYSE:GPC) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,189 shares of the specialty retailer’s stock after buying an additional 366 shares during the period. Invesco LLC’s holdings in Genuine Parts were worth $1,890,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in GPC. Public Sector Pension Investment Board grew its stake in Genuine Parts by 66.0% in the second quarter. Public Sector Pension Investment Board now owns 5,268 shares of the specialty retailer’s stock valued at $729,000 after purchasing an additional 2,095 shares during the last quarter. MBB Public Markets I LLC bought a new position in shares of Genuine Parts during the 2nd quarter worth approximately $1,236,000. Creative Planning boosted its stake in Genuine Parts by 0.5% in the second quarter. Creative Planning now owns 57,077 shares of the specialty retailer’s stock valued at $7,895,000 after acquiring an additional 280 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Genuine Parts by 1.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 13,802 shares of the specialty retailer’s stock worth $1,909,000 after purchasing an additional 253 shares during the last quarter. Finally, Quarry LP increased its position in shares of Genuine Parts by 822.2% during the second quarter. Quarry LP now owns 581 shares of the specialty retailer’s stock worth $80,000 after purchasing an additional 518 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. The Goldman Sachs Group dropped their target price on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Loop Capital assumed coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price for the company. UBS Group cut their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Finally, Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research note on Monday, November 11th. 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 Performance

NYSE:GPC traded down $0.12 during trading hours on Wednesday, reaching $117.19. The company had a trading volume of 287,735 shares, compared to its average volume of 1,433,119. 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 has a 1-year low of $112.74 and a 1-year high of $164.45. The business’s 50 day moving average price is $120.06 and its 200-day moving average price is $129.61. The firm has a market cap of $16.29 billion, a PE ratio of 15.08 and a beta of 0.95.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date was Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Insider Buying and Selling at Genuine Parts

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

About Genuine Parts

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.