CX Institutional Sells 629 Shares of Genuine Parts (NYSE:GPC)

CX Institutional cut its position in Genuine Parts (NYSE:GPC) by 17.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,925 shares of the specialty retailer’s stock after selling 629 shares during the period. CX Institutional’s holdings in Genuine Parts were worth $342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in GPC. International Assets Investment Management LLC grew its position in shares of Genuine Parts by 14,222.1% in the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after purchasing an additional 580,262 shares in the last quarter. State Street Corp grew its position in shares of Genuine Parts by 5.4% in the third 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 purchased a new position in shares of Genuine Parts in the third quarter valued at $39,474,000. Caisse DE Depot ET Placement DU Quebec grew its position in shares of 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 valued at $38,803,000 after purchasing an additional 253,400 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in shares of 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 purchasing an additional 222,723 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the sale, the director now owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.37% of the stock is currently owned by corporate insiders.

Genuine Parts Trading Down 1.0 %

Shares of GPC stock opened at $117.19 on Monday. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The business has a 50-day moving average price of $120.21 and a two-hundred day moving average price of $129.87. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The firm has a market cap of $16.29 billion, a P/E ratio of 15.08 and a beta of 0.95.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Analysts Set New Price Targets

Several equities analysts recently commented on GPC shares. Truist Financial reduced 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. JPMorgan Chase & Co. reduced their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Finally, UBS Group reduced their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently 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.