Empowered Funds LLC Has $3.88 Million Stake in Genuine Parts (NYSE:GPC)

Empowered Funds LLC increased its holdings in Genuine Parts (NYSE:GPC - Free Report) by 28.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,253 shares of the specialty retailer's stock after purchasing an additional 7,276 shares during the quarter. Empowered Funds LLC's holdings in Genuine Parts were worth $3,883,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kingsview Wealth Management LLC increased its position in shares of Genuine Parts by 2,134.9% in the fourth quarter. Kingsview Wealth Management LLC now owns 81,752 shares of the specialty retailer's stock worth $9,545,000 after acquiring an additional 78,094 shares in the last quarter. Apollon Wealth Management LLC increased its position in shares of Genuine Parts by 6.6% in the fourth quarter. Apollon Wealth Management LLC now owns 3,921 shares of the specialty retailer's stock worth $458,000 after acquiring an additional 242 shares in the last quarter. Vest Financial LLC increased its position in shares of Genuine Parts by 40.3% in the fourth quarter. Vest Financial LLC now owns 501,802 shares of the specialty retailer's stock worth $58,590,000 after acquiring an additional 144,091 shares in the last quarter. Conning Inc. grew its position in Genuine Parts by 10.4% during the fourth quarter. Conning Inc. now owns 288,349 shares of the specialty retailer's stock valued at $33,668,000 after purchasing an additional 27,046 shares in the last quarter. Finally, Global X Japan Co. Ltd. grew its position in Genuine Parts by 48.0% during the fourth quarter. Global X Japan Co. Ltd. now owns 4,599 shares of the specialty retailer's stock valued at $537,000 after purchasing an additional 1,491 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction that occurred 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 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 can be accessed through the SEC website. 0.37% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GPC shares. UBS Group lowered their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their price objective 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 lowered their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 23rd. Evercore ISI boosted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an "in-line" rating in a research report on Tuesday, October 22nd. 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 report on Wednesday, October 23rd. Eight investment 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's stock. According to MarketBeat, Genuine Parts has a consensus rating of "Hold" and a consensus price target of $141.50.

Genuine Parts Stock Performance

Shares of Genuine Parts stock traded up $0.19 on Friday, reaching $124.87. The stock had a trading volume of 1,973,798 shares, compared to its average volume of 1,609,981. The business's 50-day moving average price is $118.36 and its two-hundred day moving average price is $127.61. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The stock has a market cap of $17.36 billion, a P/E ratio of 16.07 and a beta of 0.94.

Genuine Parts Dividend Announcement

The company also recently disclosed 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 3.20%. The ex-dividend date was Friday, December 6th. Genuine Parts's payout ratio is 51.48%.

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.