Kingsview Wealth Management LLC Has $9.55 Million Stake in Genuine Parts (NYSE:GPC)

Kingsview Wealth Management LLC grew its holdings in Genuine Parts (NYSE:GPC) by 2,134.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 81,752 shares of the specialty retailer’s stock after purchasing an additional 78,094 shares during the quarter. Kingsview Wealth Management LLC owned about 0.06% of Genuine Parts worth $9,545,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in GPC. Ashton Thomas Securities LLC acquired a new position in Genuine Parts during the 3rd quarter worth about $26,000. Capital Performance Advisors LLP acquired a new position in shares of Genuine Parts during the third quarter worth approximately $31,000. Concord Wealth Partners grew its stake in shares of 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 purchasing an additional 119 shares during the last quarter. Synergy Asset Management LLC acquired a new stake in shares of Genuine Parts in the fourth quarter valued at approximately $32,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Genuine Parts during the 3rd quarter worth $44,000. Institutional investors own 78.83% of the company’s stock.

Insider Transactions at Genuine Parts

In related 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 completion of the transaction, the director now owns 11,357 shares in the company, 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 SEC, which can be accessed through this hyperlink. 0.37% of the stock is owned by insiders.

Genuine Parts Stock Down 0.2 %

Genuine Parts stock opened at $117.77 on Friday. The stock has a market capitalization of $16.37 billion, a PE ratio of 15.16 and a beta of 0.94. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The company has a 50 day moving average of $118.70 and a 200-day moving average of $128.47. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were issued a $1.00 dividend. 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 3.40%. Genuine Parts’s dividend payout ratio (DPR) is 51.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Truist Financial dropped their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. The Goldman Sachs Group reduced their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Evercore ISI upped their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. reduced their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $141.50.

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.