Nordea Investment Management AB Has $1.21 Million Holdings in Genuine Parts (NYSE:GPC)

Nordea Investment Management AB raised its position in Genuine Parts (NYSE:GPC) by 6.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 10,375 shares of the specialty retailer’s stock after acquiring an additional 629 shares during the period. Nordea Investment Management AB’s holdings in Genuine Parts were worth $1,214,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in shares of Genuine Parts during the third quarter valued at approximately $26,000. Capital Performance Advisors LLP purchased a new position in shares of Genuine Parts during the third quarter valued at approximately $31,000. Concord Wealth Partners boosted its position 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 buying an additional 119 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Genuine Parts during the third quarter valued at approximately $44,000. Finally, Armstrong Advisory Group Inc. boosted its position in shares of Genuine Parts by 63.8% during the third quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock valued at $51,000 after buying an additional 141 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on GPC shares. JPMorgan Chase & Co. cut their target price 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. Wedbush dropped their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. UBS Group dropped their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Evercore ISI lifted their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group dropped their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Genuine Parts currently has a consensus rating of “Hold” and a consensus target price of $139.57.

Insider Activity

In other news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the transaction, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is owned by company insiders.

Genuine Parts Stock Performance

Shares of GPC opened at $115.99 on Monday. The firm has a market cap of $16.13 billion, a PE ratio of 14.93 and a beta of 0.95. The stock’s fifty day moving average price is $120.94 and its two-hundred day moving average price is $131.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45.

Genuine Parts (NYSE:GPC) last issued its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.54). The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.94 billion. Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.49 earnings per share. On average, equities research analysts forecast that Genuine Parts will post 8.09 EPS for the current year.

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. This represents a $4.00 annualized dividend and a dividend yield of 3.45%. The ex-dividend date was Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

About Genuine Parts

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.