Rockline Wealth Management LLC Acquires 1,976 Shares of Genuine Parts (NYSE:GPC)

Rockline Wealth Management LLC raised its stake in shares of Genuine Parts (NYSE:GPC) by 8.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 26,455 shares of the specialty retailer’s stock after acquiring an additional 1,976 shares during the period. Rockline Wealth Management LLC’s holdings in Genuine Parts were worth $3,089,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in Genuine Parts in the 3rd quarter valued at $26,000. Capital Performance Advisors LLP bought a new stake in shares of Genuine Parts in the third quarter worth about $31,000. Synergy Asset Management LLC purchased a new stake in shares of Genuine Parts in the fourth quarter worth about $32,000. Concord Wealth Partners boosted its stake in 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 purchased a new position in Genuine Parts during the 3rd quarter valued at approximately $44,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Down 0.3 %

NYSE GPC opened at $115.96 on Tuesday. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The company has a fifty day simple moving average of $119.44 and a two-hundred day simple moving average of $128.90. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The stock has a market cap of $16.12 billion, a P/E ratio of 14.92 and a beta of 0.94.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.45%. Genuine Parts’s payout ratio is presently 51.48%.

Insider Activity

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the sale, the director now directly owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analysts Forecast Growth

GPC has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Wedbush dropped their price objective 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 decreased their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Evercore ISI increased their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Finally, Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $141.50.

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.