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

Rockline Wealth Management LLC boosted its stake in shares of Genuine Parts (NYSE:GPC) by 8.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,455 shares of the specialty retailer’s stock after acquiring an additional 1,976 shares during the quarter. Rockline Wealth Management LLC’s holdings in Genuine Parts were worth $3,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of GPC. Ashton Thomas Securities LLC bought a new stake in Genuine Parts in the third quarter valued at $26,000. Capital Performance Advisors LLP bought a new position in Genuine Parts in the third quarter worth about $31,000. Concord Wealth Partners lifted its holdings in Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after buying an additional 119 shares during the period. Synergy Asset Management LLC purchased a new position in shares of Genuine Parts during the 4th quarter worth approximately $32,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Genuine Parts in the 3rd quarter worth approximately $44,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Performance

GPC stock opened at $115.96 on Tuesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The company has a market cap of $16.12 billion, a P/E ratio of 14.92 and a beta of 0.94. The stock’s fifty day moving average price is $119.44 and its 200-day moving average price is $128.90.

Genuine Parts Announces Dividend

The firm also recently declared 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. This represents a $4.00 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s payout ratio is currently 51.48%.

Insider Transactions at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the company’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 in the company, valued at $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Loop Capital began coverage on Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Evercore ISI upped their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Wedbush reduced their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average 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.