Naples Global Advisors LLC Raises Position in Genuine Parts (NYSE:GPC)

Naples Global Advisors LLC raised its position in Genuine Parts (NYSE:GPC - Free Report) by 34.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,464 shares of the specialty retailer's stock after buying an additional 4,686 shares during the quarter. Naples Global Advisors LLC's holdings in Genuine Parts were worth $2,173,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GPC. Metis Global Partners LLC grew its holdings in shares of Genuine Parts by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer's stock worth $625,000 after purchasing an additional 85 shares in the last quarter. Guardian Wealth Advisors LLC grew its holdings in shares of Genuine Parts by 2.7% during the 3rd quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer's stock worth $484,000 after purchasing an additional 91 shares in the last quarter. Marco Investment Management LLC grew its holdings in shares of Genuine Parts by 1.2% during the 3rd quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer's stock worth $1,104,000 after purchasing an additional 91 shares in the last quarter. First Citizens Bank & Trust Co. grew its holdings in shares of Genuine Parts by 5.9% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 1,711 shares of the specialty retailer's stock worth $239,000 after purchasing an additional 95 shares in the last quarter. Finally, Hartford Financial Management Inc. grew its holdings in shares of Genuine Parts by 0.5% during the 4th quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer's stock worth $2,185,000 after purchasing an additional 99 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Genuine Parts

In related 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 value of $194,214.24. Following the transaction, the director now owns 11,357 shares in the company, valued at $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.37% of the stock is owned by company insiders.

Genuine Parts Trading Up 0.2 %

Shares of NYSE:GPC traded up $0.19 during mid-day trading on Friday, reaching $124.87. 1,973,798 shares of the company's stock were exchanged, compared to its average volume of 1,609,981. The firm has a market capitalization of $17.36 billion, a price-to-earnings ratio of 16.07 and a beta of 0.94. The business's fifty day moving average price is $118.36 and its 200-day moving average price is $127.75. 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 twelve month low of $112.74 and a twelve month high of $164.45.

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 issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.20%. Genuine Parts's dividend payout ratio (DPR) is presently 51.48%.

Analyst Ratings Changes

Several analysts have recently issued reports on GPC shares. Northcoast Research lowered Genuine Parts from a "buy" rating to a "neutral" rating in a report on Friday, January 17th. The Goldman Sachs Group reduced their price objective on Genuine Parts from $162.00 to $138.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 23rd. Evercore ISI raised their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an "in-line" rating in a research note on Tuesday, October 22nd. Truist Financial decreased their target price on shares of Genuine Parts from $164.00 to $129.00 and set a "buy" rating on the stock in a research note on Wednesday, October 23rd. Finally, Loop Capital started 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. Eight research 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. According to data from MarketBeat.com, Genuine Parts currently has an average rating of "Hold" and a consensus 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.