Genuine Parts (NYSE:GPC) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its holdings in Genuine Parts (NYSE:GPC) by 1,368.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 67,955 shares of the specialty retailer’s stock after acquiring an additional 63,328 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Genuine Parts were worth $7,934,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new position in Genuine Parts during the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new stake in Genuine Parts in the third quarter valued at $31,000. Concord Wealth Partners lifted its holdings in Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after buying an additional 119 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Genuine Parts during the 3rd quarter worth about $44,000. Finally, First Financial Corp IN purchased a new position in shares of Genuine Parts in the 4th quarter valued at about $44,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Price Performance

Genuine Parts stock opened at $118.43 on Monday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The business has a 50 day simple moving average of $120.69 and a 200-day simple moving average of $130.37. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The stock has a market capitalization of $16.47 billion, a PE ratio of 15.24 and a beta of 0.95.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $5.94 billion. During the same quarter last year, the business posted $2.49 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. Equities analysts predict that Genuine Parts will post 8.09 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s payout ratio is 51.48%.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction dated Friday, December 13th. The shares were 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 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 document filed with the SEC, which is available through this hyperlink. Company insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on GPC shares. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday. Truist Financial cut 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. JPMorgan Chase & Co. decreased their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Loop Capital initiated coverage on Genuine Parts in a research report on Thursday. They set a “buy” rating and a $155.00 target price on the stock. Finally, The Goldman Sachs Group decreased their target price on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $141.50.

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.