Genuine Parts (NYSE:GPC) Shares Bought by Pensionfund Sabic

Pensionfund Sabic grew its holdings in shares of Genuine Parts (NYSE:GPC - Free Report) by 68.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,300 shares of the specialty retailer's stock after buying an additional 5,000 shares during the quarter. Pensionfund Sabic's holdings in Genuine Parts were worth $1,436,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GPC. Nordea Investment Management AB raised its holdings in Genuine Parts by 6.5% during the 4th quarter. Nordea Investment Management AB now owns 10,375 shares of the specialty retailer's stock valued at $1,214,000 after buying an additional 629 shares during the period. Central Pacific Bank Trust Division boosted its stake in shares of Genuine Parts by 5.1% during the 4th quarter. Central Pacific Bank Trust Division now owns 13,234 shares of the specialty retailer's stock worth $1,545,000 after purchasing an additional 637 shares during the period. Cacti Asset Management LLC lifted its stake in Genuine Parts by 12.1% in the fourth quarter. Cacti Asset Management LLC now owns 83,234 shares of the specialty retailer's stock worth $9,640,000 after purchasing an additional 9,000 shares during the last quarter. JPMorgan Chase & Co. grew its position in Genuine Parts by 6.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer's stock valued at $257,124,000 after acquiring an additional 114,180 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Genuine Parts by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 183,533 shares of the specialty retailer's stock valued at $25,636,000 after buying an additional 6,358 shares in the last quarter. Institutional investors own 78.83% of the company's stock.

Insider Activity

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the 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 sale, the director now directly owns 11,357 shares of the company's stock, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GPC. The Goldman Sachs Group decreased their target price on Genuine Parts from $162.00 to $138.00 and set a "neutral" rating for the company in a research report on Wednesday, October 23rd. Truist Financial cut 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 report on Wednesday, October 23rd. StockNews.com cut shares of Genuine Parts from a "buy" rating to a "hold" rating in a research report on Wednesday, October 16th. Evercore ISI lifted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an "in-line" rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. decreased their price objective 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. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Genuine Parts currently has a consensus rating of "Hold" and an average price target of $139.57.

Genuine Parts Stock Up 0.5 %

Shares of NYSE:GPC traded up $0.54 on Monday, hitting $117.40. 1,076,741 shares of the company's stock were exchanged, compared to its average volume of 1,112,014. The company has a market capitalization of $16.32 billion, a PE ratio of 15.11 and a beta of 0.95. 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 1-year low of $112.74 and a 1-year high of $164.45. The firm's 50-day moving average is $120.88 and its 200 day moving average is $131.84.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company had revenue of $6 billion for the quarter, compared to analysts' expectations of $5.94 billion. During the same quarter last year, the company earned $2.49 EPS. Genuine Parts's revenue for the quarter was up 3.0% compared to the same quarter last year. Sell-side analysts predict that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 3.41%. Genuine Parts's dividend payout ratio (DPR) is 51.48%.

Genuine Parts 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.