2,606 Shares in Genuine Parts (NYSE:GPC) Purchased by BXM Wealth LLC

BXM Wealth LLC purchased a new position in Genuine Parts (NYSE:GPC) during the fourth quarter, HoldingsChannel reports. The firm purchased 2,606 shares of the specialty retailer’s stock, valued at approximately $304,000.

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

Insider Activity at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 11,357 shares of the company’s stock, valued at $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on GPC. The Goldman Sachs Group dropped their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. UBS Group lowered their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. JPMorgan Chase & Co. decreased their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Finally, Loop Capital initiated coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price for the company. 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $141.50.

Genuine Parts Price Performance

GPC stock opened at $124.87 on Friday. The business’s 50-day moving average is $118.36 and its two-hundred day moving average is $127.88. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The firm 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were paid a $1.00 dividend. 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 (DPR) 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.