Lederer & Associates Investment Counsel CA Takes Position in Genuine Parts (NYSE:GPC)

Lederer & Associates Investment Counsel CA bought a new position in shares of Genuine Parts (NYSE:GPC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,738 shares of the specialty retailer's stock, valued at approximately $553,000.

A number of other institutional investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC increased its position in Genuine Parts by 14,222.1% in the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer's stock valued at $81,621,000 after buying an additional 580,262 shares in the last quarter. State Street Corp lifted its holdings in shares of Genuine Parts by 5.4% in the 3rd quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer's stock worth $1,103,300,000 after purchasing an additional 401,180 shares in the last quarter. Boston Trust Walden Corp bought a new stake in Genuine Parts during the 3rd quarter valued at $39,474,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Genuine Parts by 1,038.4% during 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 buying an additional 253,400 shares during the last quarter. Finally, Synovus Financial Corp lifted its position in Genuine Parts by 95.4% in the 3rd quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer's stock valued at $54,708,000 after acquiring an additional 191,272 shares in the last quarter. Institutional investors own 78.83% of the company's stock.

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 shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the transaction, the director now directly owns 11,357 shares in the company, valued at $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction 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 Stock Performance

Shares of GPC traded up $0.91 during trading hours on Wednesday, hitting $118.43. The company's stock had a trading volume of 1,519,553 shares, compared to its average volume of 1,537,007. The company has a market cap of $16.47 billion, a price-to-earnings ratio of 15.24 and a beta of 0.94. 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 50 day simple moving average of $119.23 and a two-hundred day simple moving average of $128.76. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders 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 annualized dividend and a dividend yield of 3.38%. Genuine Parts's dividend payout ratio is currently 51.48%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on GPC shares. Wedbush dropped their target price on Genuine Parts from $145.00 to $120.00 and set a "neutral" rating on the stock in a report on Wednesday, October 23rd. StockNews.com cut Genuine Parts from a "buy" rating to a "hold" rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their target price on Genuine Parts from $162.00 to $135.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 22nd. Truist Financial reduced their price target on shares of Genuine Parts from $164.00 to $129.00 and set a "buy" rating for the company in a research report on Wednesday, October 23rd. Finally, Evercore ISI lifted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an "in-line" rating in a research report on Tuesday, October 22nd. Eight investment 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price 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.