Empirical Financial Services LLC d.b.a. Empirical Wealth Management Increases Position in Genuine Parts (NYSE:GPC)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of Genuine Parts (NYSE:GPC) by 34.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,575 shares of the specialty retailer’s stock after buying an additional 656 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Genuine Parts were worth $301,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GPC. Ashton Thomas Securities LLC bought a new position in Genuine Parts in the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP bought a new position in shares of Genuine Parts during the third quarter worth $31,000. Concord Wealth Partners increased its holdings in Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 119 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Genuine Parts in the 3rd quarter worth $44,000. Finally, First Financial Corp IN purchased a new position in shares of Genuine Parts during the fourth quarter valued at about $44,000. Institutional investors own 78.83% of the company’s stock.

Insider Activity

In related news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts 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 completion of the sale, the director now owns 11,357 shares in the company, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research report on Monday, November 11th. UBS Group cut their target price 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. Truist Financial decreased their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note 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 report on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $141.50.

Genuine Parts Trading Up 1.5 %

GPC opened at $118.12 on Friday. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The stock has a market cap of $16.42 billion, a price-to-earnings ratio of 15.20 and a beta of 0.95. The stock’s 50 day moving average price is $119.88 and its 200-day moving average price is $129.44.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.39%. Genuine Parts’s dividend payout ratio (DPR) is 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.