Blue Trust Inc. Boosts Stake in Genuine Parts (NYSE:GPC)

Blue Trust Inc. increased its stake in Genuine Parts (NYSE:GPC) by 151.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,843 shares of the specialty retailer’s stock after buying an additional 5,934 shares during the period. Blue Trust Inc.’s holdings in Genuine Parts were worth $1,149,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Kanawha Capital Management LLC lifted its stake in Genuine Parts by 23.1% in the fourth quarter. Kanawha Capital Management LLC now owns 21,272 shares of the specialty retailer’s stock worth $2,484,000 after acquiring an additional 3,987 shares during the period. V Square Quantitative Management LLC lifted its position in shares of Genuine Parts by 20.7% in the 4th quarter. V Square Quantitative Management LLC now owns 5,395 shares of the specialty retailer’s stock worth $630,000 after purchasing an additional 926 shares during the period. Pathway Financial Advisers LLC boosted its stake in shares of Genuine Parts by 1.5% during the fourth quarter. Pathway Financial Advisers LLC now owns 10,166 shares of the specialty retailer’s stock valued at $1,187,000 after purchasing an additional 152 shares in the last quarter. Van ECK Associates Corp increased its holdings in Genuine Parts by 3.5% during the fourth quarter. Van ECK Associates Corp now owns 23,866 shares of the specialty retailer’s stock valued at $2,787,000 after buying an additional 809 shares during the period. Finally, Naples Global Advisors LLC raised its stake in Genuine Parts by 34.0% in the fourth quarter. Naples Global Advisors LLC now owns 18,464 shares of the specialty retailer’s stock worth $2,173,000 after buying an additional 4,686 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the transaction, the director now owns 11,357 shares in the company, valued at $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wedbush decreased their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. UBS Group lowered their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. The Goldman Sachs Group dropped their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Truist Financial dropped their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, Loop Capital assumed coverage on shares of Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 price target on the stock. Eight analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $141.50.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $124.87 on Friday. The firm has a 50-day simple moving average of $118.36 and a 200-day simple moving average of $127.75. 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 stock has a market capitalization of $17.36 billion, a price-to-earnings ratio of 16.07 and a beta of 0.94. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is 51.48%.

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.