Genuine Parts (NYSE:GPC) Stock Position Reduced by Swedbank AB

Swedbank AB trimmed its position in Genuine Parts (NYSE:GPC) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 117,753 shares of the specialty retailer’s stock after selling 1,531 shares during the quarter. Swedbank AB owned approximately 0.08% of Genuine Parts worth $13,749,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Genuine Parts by 1.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 13,802 shares of the specialty retailer’s stock worth $1,909,000 after purchasing an additional 253 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Genuine Parts during the 2nd quarter valued at about $3,437,000. Czech National Bank lifted its holdings in Genuine Parts by 6.9% in the third quarter. Czech National Bank now owns 28,380 shares of the specialty retailer’s stock worth $3,964,000 after acquiring an additional 1,835 shares during the last quarter. SG Americas Securities LLC boosted its stake in Genuine Parts by 557.9% in the third quarter. SG Americas Securities LLC now owns 262,645 shares of the specialty retailer’s stock valued at $36,686,000 after acquiring an additional 222,723 shares during the period. Finally, HBW Advisory Services LLC raised its position in shares of Genuine Parts by 6.5% during the 3rd quarter. HBW Advisory Services LLC now owns 15,631 shares of the specialty retailer’s stock worth $2,183,000 after purchasing an additional 952 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GPC. Loop Capital initiated coverage on Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. UBS Group dropped their price target 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. The Goldman Sachs Group cut their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Finally, Truist Financial decreased 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. Eight equities 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $141.50.

Insider Transactions 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 transaction of $194,214.24. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.37% of the company’s stock.

Genuine Parts Trading Down 1.7 %

Shares of Genuine Parts stock opened at $116.13 on Friday. The business has a fifty day simple moving average of $119.71 and a 200-day simple moving average of $129.27. The firm has a market cap of $16.15 billion, a price-to-earnings ratio of 14.95 and a beta of 0.95. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were given a dividend of $1.00 per share. The ex-dividend date was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.44%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

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.