Parsons Capital Management Inc. RI Sells 91 Shares of Genuine Parts (NYSE:GPC)

Parsons Capital Management Inc. RI trimmed its position in shares of Genuine Parts (NYSE:GPC) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,177 shares of the specialty retailer’s stock after selling 91 shares during the period. Parsons Capital Management Inc. RI’s holdings in Genuine Parts were worth $488,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Metis Global Partners LLC grew its position in 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 acquiring an additional 85 shares during the last quarter. Guardian Wealth Advisors LLC boosted its stake in shares of Genuine Parts by 2.7% during the third quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock valued at $484,000 after purchasing an additional 91 shares during the period. Marco Investment Management LLC grew its holdings in shares of Genuine Parts by 1.2% in the third 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 during the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of Genuine Parts by 5.9% in the third quarter. First Citizens Bank & Trust Co. now owns 1,711 shares of the specialty retailer’s stock worth $239,000 after buying an additional 95 shares during the period. Finally, Citizens Financial Group Inc. RI boosted its position in Genuine Parts by 2.8% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer’s stock valued at $533,000 after buying an additional 103 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on GPC shares. Loop Capital assumed coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. UBS Group lowered their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Truist Financial reduced their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Genuine Parts has an average rating of “Hold” and a consensus price target of $141.50.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction dated 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by company insiders.

Genuine Parts Stock Down 2.2 %

Shares of Genuine Parts stock opened at $117.52 on Wednesday. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. 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 company has a 50-day moving average of $120.06 and a 200 day moving average of $129.61. The firm has a market cap 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 declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were given a $1.00 dividend. The ex-dividend date was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.40%. Genuine Parts’s dividend payout ratio is currently 51.48%.

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.