Kessler Investment Group LLC Boosts Stake in Genuine Parts (NYSE:GPC)

Kessler Investment Group LLC lifted its position in shares of Genuine Parts (NYSE:GPCFree Report) by 9.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,288 shares of the specialty retailer’s stock after acquiring an additional 272 shares during the quarter. Kessler Investment Group LLC’s holdings in Genuine Parts were worth $384,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Genuine Parts during the 3rd quarter worth about $26,000. Capital Performance Advisors LLP purchased a new stake in shares of Genuine Parts during the 3rd quarter worth about $31,000. Synergy Asset Management LLC purchased a new position in Genuine Parts in the 4th quarter valued at about $32,000. Concord Wealth Partners lifted its stake in Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 119 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new position in Genuine Parts in the 3rd quarter valued at about $44,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were 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 $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.37% of the company’s stock.

Genuine Parts Stock Up 0.2 %

Shares of NYSE GPC opened at $124.87 on Friday. The company has a 50 day simple moving average of $118.36 and a 200-day simple moving average of $127.88. The company has a market capitalization of $17.36 billion, a P/E ratio of 16.07 and a beta of 0.94. 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.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.20%. Genuine Parts’s dividend payout ratio is currently 51.48%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GPC shares. Evercore ISI raised their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. UBS Group decreased 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. JPMorgan Chase & Co. decreased their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Finally, Truist Financial decreased their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $141.50.

Read Our Latest Research Report on GPC

About Genuine Parts

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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