Lebenthal Global Advisors LLC Acquires New Shares in Genuine Parts (NYSE:GPC)

Lebenthal Global Advisors LLC bought a new position in shares of Genuine Parts (NYSE:GPC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,438 shares of the specialty retailer's stock, valued at approximately $401,000.

Other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in shares of Genuine Parts in the third quarter valued at about $26,000. Capital Performance Advisors LLP acquired a new stake in shares of Genuine Parts during the third quarter worth approximately $31,000. Concord Wealth Partners increased its holdings in shares of Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer's stock valued at $38,000 after purchasing an additional 119 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Genuine Parts in the third quarter valued at approximately $44,000. Finally, First Financial Corp IN bought a new position in Genuine Parts in the fourth quarter valued at approximately $44,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GPC has been the topic of a number of recent analyst reports. Truist Financial reduced their price target on shares of Genuine Parts from $164.00 to $129.00 and set a "buy" rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their price target on Genuine Parts from $162.00 to $135.00 and set an "overweight" rating for the company in a research note on Tuesday, October 22nd. Loop Capital began coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a "buy" rating and a $155.00 price target for the company. StockNews.com cut Genuine Parts from a "buy" rating to a "hold" rating in a report on Wednesday, October 16th. Finally, Evercore ISI boosted their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an "in-line" rating in a report on Tuesday, October 22nd. Eight analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $141.50.

Genuine Parts Price Performance

GPC stock traded down $2.63 during mid-day trading on Tuesday, hitting $117.52. 1,438,325 shares of the stock were exchanged, compared to its average volume of 1,505,813. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The business has a fifty day moving average price of $120.06 and a 200 day moving average price of $129.61. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The stock has a market capitalization of $16.34 billion, a price-to-earnings ratio of 15.12 and a beta of 0.95.

Genuine Parts Dividend Announcement

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 3.40%. The ex-dividend date was Friday, December 6th. Genuine Parts's dividend payout ratio (DPR) is presently 51.48%.

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.

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.