Genuine Parts (NYSE:GPC) Shares Sold by Blue Chip Partners LLC

Blue Chip Partners LLC decreased its holdings in Genuine Parts (NYSE:GPC) by 27.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,602 shares of the specialty retailer’s stock after selling 18,554 shares during the quarter. Blue Chip Partners LLC’s holdings in Genuine Parts were worth $5,675,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in Genuine Parts by 14,222.1% during the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after acquiring an additional 580,262 shares during the last quarter. State Street Corp raised its stake in shares of Genuine Parts by 5.4% in the 3rd quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock valued at $1,103,300,000 after purchasing an additional 401,180 shares in the last quarter. Boston Trust Walden Corp bought a new position in shares of Genuine Parts during the third quarter worth about $39,474,000. Caisse DE Depot ET Placement DU Quebec grew its stake in Genuine Parts by 1,038.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer’s stock worth $38,803,000 after purchasing an additional 253,400 shares in the last quarter. Finally, Synovus Financial Corp increased its holdings in Genuine Parts by 95.4% in the third quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer’s stock valued at $54,708,000 after buying an additional 191,272 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GPC. Truist Financial decreased their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Wedbush dropped their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Loop Capital started coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target on the stock. UBS Group dropped their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Finally, Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $141.50.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the 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 completion of the transaction, the director now owns 11,357 shares in the company, valued at $1,371,698.46. This represents a 12.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.37% of the stock is owned by insiders.

Genuine Parts Price Performance

NYSE GPC opened at $124.87 on Monday. The company has a 50-day moving average price of $118.36 and a two-hundred day moving average price of $127.61. 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 $17.36 billion, a price-to-earnings ratio of 16.07 and a beta of 0.94. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81.

Genuine Parts Announces Dividend

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

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.