Genuine Parts (NYSE:GPC) Shares Acquired by Hamilton Point Investment Advisors LLC

Hamilton Point Investment Advisors LLC boosted its holdings in shares of Genuine Parts (NYSE:GPC) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,735 shares of the specialty retailer’s stock after purchasing an additional 569 shares during the quarter. Hamilton Point Investment Advisors LLC’s holdings in Genuine Parts were worth $4,090,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GPC. Ashton Thomas Securities LLC bought a new position in Genuine Parts during the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new position in shares of Genuine Parts during the third quarter valued at $31,000. Synergy Asset Management LLC bought a new position in Genuine Parts in the 4th quarter worth about $32,000. Concord Wealth Partners increased its position 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 acquiring an additional 119 shares during the period. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Genuine Parts during the third quarter valued at about $44,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

GPC stock opened at $118.12 on Friday. The firm has a 50 day simple moving average of $119.88 and a 200 day simple moving average of $129.44. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The stock has a market cap of $16.42 billion, a P/E ratio of 15.20 and a beta of 0.95. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17.

Genuine Parts Dividend Announcement

The business 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. This represents a $4.00 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s dividend payout ratio is currently 51.48%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Truist Financial decreased 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. Wedbush reduced their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. The Goldman Sachs Group dropped their price target 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. Finally, UBS Group decreased their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Eight investment 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 stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $141.50.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the transaction, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.37% of the stock is currently owned by company 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.