Genuine Parts (NYSE:GPC) Shares Purchased by Grimes & Company Inc.

Grimes & Company Inc. boosted its holdings in Genuine Parts (NYSE:GPC) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,494 shares of the specialty retailer’s stock after buying an additional 111 shares during the quarter. Grimes & Company Inc.’s holdings in Genuine Parts were worth $408,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its position in Genuine Parts by 78.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 490 shares of the specialty retailer’s stock worth $72,000 after purchasing an additional 216 shares in the last quarter. Public Sector Pension Investment Board grew its position in Genuine Parts by 66.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 5,268 shares of the specialty retailer’s stock worth $729,000 after purchasing an additional 2,095 shares in the last quarter. Bank of Montreal Can grew its position in Genuine Parts by 16.0% during the 2nd quarter. Bank of Montreal Can now owns 153,594 shares of the specialty retailer’s stock worth $21,591,000 after purchasing an additional 21,130 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Genuine Parts by 59.5% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 26,703 shares of the specialty retailer’s stock worth $3,694,000 after purchasing an additional 9,964 shares in the last quarter. Finally, MBB Public Markets I LLC purchased a new position in Genuine Parts during the 2nd quarter worth approximately $1,236,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Ratings Changes

GPC has been the topic of several research analyst reports. Evercore ISI lifted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Wedbush decreased 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 note on Wednesday, October 23rd. Truist Financial decreased their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group decreased their target price 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. Eight equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $141.50.

Genuine Parts Stock Down 1.0 %

GPC stock opened at $117.19 on Friday. 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 has a 1 year low of $112.74 and a 1 year high of $164.45. The company has a fifty day simple moving average of $120.21 and a 200 day simple moving average of $129.89. The firm has a market cap of $16.29 billion, a PE ratio of 15.08 and a beta of 0.95.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.41%. The ex-dividend date was Friday, December 6th. Genuine Parts’s payout ratio is presently 51.48%.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the transaction, the director now owns 11,357 shares of the company’s stock, 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 the SEC website. 0.37% of the stock is owned by company insiders.

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.