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

Blue Trust Inc. grew its position in Genuine Parts (NYSE:GPC) by 151.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund 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.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kanawha Capital Management LLC lifted its position in Genuine Parts by 23.1% in the 4th quarter. Kanawha Capital Management LLC now owns 21,272 shares of the specialty retailer’s stock valued at $2,484,000 after acquiring an additional 3,987 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of Genuine Parts by 20.7% during the fourth quarter. V Square Quantitative Management LLC now owns 5,395 shares of the specialty retailer’s stock valued at $630,000 after purchasing an additional 926 shares in the last quarter. Pathway Financial Advisers LLC boosted its position 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 buying an additional 152 shares during the last quarter. Van ECK Associates Corp increased its holdings in Genuine Parts by 3.5% in the 4th quarter. Van ECK Associates Corp now owns 23,866 shares of the specialty retailer’s stock worth $2,787,000 after buying an additional 809 shares in the last quarter. Finally, Naples Global Advisors LLC raised its position in Genuine Parts by 34.0% in the 4th 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 during the last quarter. Institutional investors own 78.83% of the company’s stock.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now directly 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 filing with the SEC, which is available at the SEC website. Insiders own 0.37% of the company’s stock.

Genuine Parts Price Performance

GPC stock opened at $124.87 on Friday. The company has a market capitalization of $17.36 billion, a PE ratio of 16.07 and a beta of 0.94. The company’s fifty day moving average price is $118.36 and its 200-day moving average price is $127.75. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. 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 company also recently disclosed 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 payout ratio is 51.48%.

Wall Street Analysts Forecast Growth

GPC has been the subject of a number of research analyst reports. Loop Capital started coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. Wedbush cut their target price 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 on the stock in a report on Wednesday, October 23rd. Truist Financial cut their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lowered their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Eight research 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $141.50.

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.