2,377 Shares in Genuine Parts (NYSE:GPC) Acquired by PUREfi Wealth LLC

PUREfi Wealth LLC bought a new position in shares of Genuine Parts (NYSE:GPC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,377 shares of the specialty retailer’s stock, valued at approximately $278,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in Genuine Parts during the third quarter worth approximately $26,000. Capital Performance Advisors LLP purchased a new stake in Genuine Parts during the third quarter worth approximately $31,000. Concord Wealth Partners lifted its stake in Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 119 shares during the last quarter. Synergy Asset Management LLC purchased a new stake in Genuine Parts during the fourth quarter worth approximately $32,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in Genuine Parts in the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the transaction, the director now owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.37% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on GPC. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Wedbush reduced their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. The Goldman Sachs Group reduced their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Truist Financial reduced their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Finally, Evercore ISI boosted 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. Eight investment 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $141.50.

Genuine Parts Trading Up 0.2 %

NYSE:GPC opened at $124.87 on Friday. The firm has a market cap of $17.36 billion, a P/E ratio of 16.07 and a beta of 0.94. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The stock’s 50 day simple moving average is $118.36 and its 200-day simple moving average is $127.88. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s dividend payout ratio is presently 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.