Nisa Investment Advisors LLC Has $2.60 Million Stock Position in Genuine Parts (NYSE:GPC)

Nisa Investment Advisors LLC reduced its stake in shares of Genuine Parts (NYSE:GPC) by 5.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 22,065 shares of the specialty retailer’s stock after selling 1,157 shares during the period. Nisa Investment Advisors LLC’s holdings in Genuine Parts were worth $2,598,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 11,357 shares of the company’s stock, 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 SEC, which is available at the SEC website. 0.37% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on GPC. The Goldman Sachs Group dropped 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. JPMorgan Chase & Co. dropped their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Evercore ISI increased their target price on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. Truist Financial dropped their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Finally, Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Eight investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $141.50.

Genuine Parts Price Performance

Shares of GPC opened at $117.19 on Monday. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. 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 company has a market capitalization of $16.29 billion, a price-to-earnings ratio of 15.08 and a beta of 0.95. The business has a 50-day moving average of $120.21 and a 200-day moving average of $129.87.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.41%. Genuine Parts’s dividend payout ratio is currently 51.48%.

Genuine Parts Company 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.