Robinson Value Management Ltd. purchased a new position in shares of Genuine Parts (NYSE:GPC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 20,270 shares of the specialty retailer's stock, valued at approximately $2,367,000. Genuine Parts makes up 1.6% of Robinson Value Management Ltd.'s portfolio, making the stock its 28th largest position.
Several other hedge funds and other institutional investors have also made changes to their positions in GPC. Ashton Thomas Securities LLC acquired a new position in shares of Genuine Parts during the 3rd quarter worth $26,000. Capital Performance Advisors LLP acquired a new position in shares of Genuine Parts during the 3rd quarter valued at about $31,000. Synergy Asset Management LLC acquired a new position in Genuine Parts in the fourth quarter valued at $32,000. Concord Wealth Partners lifted its position in Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer's stock valued at $38,000 after buying an additional 119 shares in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new stake in Genuine Parts in the 3rd quarter valued at $44,000. Institutional investors and hedge funds own 78.83% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on GPC. Redburn Atlantic upgraded shares of Genuine Parts to a "hold" rating in a report on Monday, November 11th. UBS Group cut their price target on shares of Genuine Parts from $145.00 to $125.00 and set a "neutral" rating for the company in a research note on Wednesday, October 23rd. Loop Capital assumed coverage on Genuine Parts in a research report on Thursday, January 16th. They issued a "buy" rating and a $155.00 price objective on the stock. Northcoast Research downgraded shares of Genuine Parts from a "buy" rating to a "neutral" rating in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. lowered their target price on Genuine Parts from $162.00 to $135.00 and set an "overweight" rating for the company 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, Genuine Parts presently has an average rating of "Hold" and an average target price of $141.50.
Check Out Our Latest Stock Report on Genuine Parts
Insider Activity
In other news, Director Wendy B. Needham sold 1,608 shares of the company's stock in a transaction that occurred 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 completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.37% of the company's stock.
Genuine Parts Stock Performance
GPC traded up $0.43 during trading on Wednesday, hitting $122.13. The stock had a trading volume of 1,229,319 shares, compared to its average volume of 1,552,449. The firm has a market capitalization of $16.98 billion, a P/E ratio of 15.72 and a beta of 0.94. The company's 50-day moving average price is $118.33 and its 200 day moving average price is $128.03. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. 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 Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date was Friday, December 6th. Genuine Parts's payout ratio is 51.48%.
About Genuine Parts
(
Free Report)
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.
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