abrdn plc Sells 8,940 Shares of Genuine Parts (NYSE:GPC)

abrdn plc reduced its stake in shares of Genuine Parts (NYSE:GPC) by 4.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 203,380 shares of the specialty retailer’s stock after selling 8,940 shares during the period. abrdn plc’s holdings in Genuine Parts were worth $23,704,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quantinno Capital Management LP raised its position in Genuine Parts by 74.0% in the 3rd quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock valued at $1,580,000 after buying an additional 4,809 shares during the last quarter. Miramar Capital LLC grew its stake in shares of Genuine Parts by 9.8% in the 3rd quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock worth $12,264,000 after acquiring an additional 7,845 shares in the last quarter. Verity & Verity LLC raised its holdings in shares of Genuine Parts by 9.7% in the fourth quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock valued at $12,198,000 after purchasing an additional 9,199 shares during the last quarter. Caprock Group LLC bought a new position in shares of Genuine Parts during the fourth quarter valued at about $540,000. Finally, Conning Inc. grew its position in Genuine Parts by 8.2% in the 3rd quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock worth $36,499,000 after purchasing an additional 19,795 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Evercore ISI lifted their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Loop Capital initiated coverage on Genuine Parts in a research report on Thursday, January 16th. They set a “buy” rating and a $155.00 target price for the company. The Goldman Sachs Group cut their price target 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 research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $141.50.

Genuine Parts Stock Performance

NYSE GPC opened at $117.99 on Friday. The firm has a market cap of $16.41 billion, a P/E ratio of 15.19 and a beta of 0.94. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The company’s 50 day moving average is $118.88 and its 200-day moving average is $128.61. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45.

Genuine Parts Announces Dividend

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