DDD Partners LLC Takes Position in Genuine Parts Company $GPC

DDD Partners LLC acquired a new position in shares of Genuine Parts Company (NYSE:GPC) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 136,549 shares of the specialty retailer’s stock, valued at approximately $18,926,000. Genuine Parts makes up 1.2% of DDD Partners LLC’s portfolio, making the stock its 24th biggest position. DDD Partners LLC owned about 0.10% of Genuine Parts as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its stake in Genuine Parts by 4.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 549,830 shares of the specialty retailer’s stock valued at $76,206,000 after purchasing an additional 21,820 shares in the last quarter. Synergy Asset Management LLC boosted its position in Genuine Parts by 272.7% in the third quarter. Synergy Asset Management LLC now owns 108,028 shares of the specialty retailer’s stock valued at $14,706,000 after buying an additional 79,044 shares during the last quarter. Caldwell Trust Co acquired a new position in Genuine Parts in the 2nd quarter worth approximately $3,323,000. Prudential Financial Inc. increased its holdings in Genuine Parts by 5.8% in the 2nd quarter. Prudential Financial Inc. now owns 79,557 shares of the specialty retailer’s stock worth $9,651,000 after buying an additional 4,374 shares during the period. Finally, Independent Advisor Alliance raised its position in Genuine Parts by 17.7% during the 3rd quarter. Independent Advisor Alliance now owns 34,368 shares of the specialty retailer’s stock worth $4,763,000 after buying an additional 5,165 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. UBS Group reaffirmed a “neutral” rating on shares of Genuine Parts in a report on Wednesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a report on Monday, December 29th. JPMorgan Chase & Co. lifted their price objective on Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Truist Financial boosted their price objective on Genuine Parts from $146.00 to $162.00 and gave the company a “buy” rating in a report on Thursday. Finally, Evercore ISI set a $175.00 target price on Genuine Parts in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Genuine Parts currently has an average rating of “Moderate Buy” and an average price target of $154.14.

Genuine Parts Trading Down 0.2%

NYSE GPC opened at $147.37 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.14 and a quick ratio of 0.51. The stock has a market capitalization of $20.50 billion, a P/E ratio of 25.36 and a beta of 0.74. The firm’s 50-day moving average is $133.37 and its two-hundred day moving average is $133.52. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $151.57.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Friday, December 5th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, December 5th. Genuine Parts’s payout ratio is 70.91%.

Genuine Parts Profile

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.