Genuine Parts (NYSE:GPC) Shares Sold by PFG Investments LLC

PFG Investments LLC cut its stake in shares of Genuine Parts (NYSE:GPC) by 11.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,505 shares of the specialty retailer’s stock after selling 604 shares during the period. PFG Investments LLC’s holdings in Genuine Parts were worth $526,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp boosted its stake 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 valued at $1,103,300,000 after purchasing an additional 401,180 shares during the period. Geode Capital Management LLC boosted its position in Genuine Parts by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer’s stock valued at $458,947,000 after buying an additional 32,858 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Genuine Parts by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,743,970 shares of the specialty retailer’s stock valued at $383,511,000 after acquiring an additional 30,354 shares in the last quarter. Stifel Financial Corp increased its position in shares of Genuine Parts by 1.2% during the third quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer’s stock worth $287,405,000 after acquiring an additional 25,015 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Genuine Parts by 6.6% in the third quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer’s stock valued at $257,124,000 after purchasing an additional 114,180 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Insider Activity

In related news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now directly owns 11,357 shares in the company, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GPC shares. Evercore ISI upped their target price on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. UBS Group reduced their price objective 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. Truist Financial dropped their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Loop Capital initiated coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price target on the stock. Finally, Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Eight 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $141.50.

Genuine Parts Stock Down 0.7 %

NYSE:GPC opened at $116.51 on Thursday. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The stock has a 50 day moving average of $119.97 and a 200-day moving average of $129.52. The firm has a market capitalization of $16.20 billion, a PE ratio of 14.99 and a beta of 0.95. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were given a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.43%. The ex-dividend date was Friday, December 6th. Genuine Parts’s dividend payout ratio is presently 51.48%.

Genuine Parts Company 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.