Fifth Third Bancorp Has $1.75 Million Stock Holdings in Genuine Parts (NYSE:GPC)

Fifth Third Bancorp trimmed its position in Genuine Parts (NYSE:GPC) by 7.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 14,945 shares of the specialty retailer’s stock after selling 1,236 shares during the period. Fifth Third Bancorp’s holdings in Genuine Parts were worth $1,745,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GPC. Raleigh Capital Management Inc. raised its stake in shares of Genuine Parts by 532.1% during the fourth quarter. Raleigh Capital Management Inc. now owns 670 shares of the specialty retailer’s stock worth $78,000 after buying an additional 564 shares during the last quarter. Mutual Advisors LLC acquired a new stake in Genuine Parts during the 4th quarter worth $1,034,000. Janney Montgomery Scott LLC raised its position in shares of Genuine Parts by 3.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 281,145 shares of the specialty retailer’s stock valued at $32,826,000 after acquiring an additional 9,294 shares during the last quarter. ForthRight Wealth Management LLC lifted its stake in shares of Genuine Parts by 12.0% in the 4th quarter. ForthRight Wealth Management LLC now owns 4,677 shares of the specialty retailer’s stock valued at $546,000 after purchasing an additional 500 shares during the period. Finally, Viking Fund Management LLC boosted its position in shares of Genuine Parts by 10.0% in the 4th quarter. Viking Fund Management LLC now owns 55,000 shares of the specialty retailer’s stock worth $6,422,000 after purchasing an additional 5,000 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Loop Capital started coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price on the stock. UBS Group decreased their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Evercore ISI lifted their target price on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. Eight research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Genuine Parts currently has an average rating of “Hold” and a consensus target price of $141.50.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts 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 sale, the director now directly owns 11,357 shares in the company, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.37% of the company’s stock.

Genuine Parts Price Performance

GPC stock opened at $117.52 on Wednesday. The stock has a market cap of $16.34 billion, a PE ratio of 15.12 and a beta of 0.95. The stock has a 50-day moving average price of $120.06 and a two-hundred day moving average price of $129.61. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81.

Genuine Parts Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 3.40%. The ex-dividend date was Friday, December 6th. Genuine Parts’s payout ratio is 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.