Genuine Parts (NYSE:GPC) Shares Purchased by WD Rutherford LLC

WD Rutherford LLC grew its position in shares of Genuine Parts (NYSE:GPC) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,661 shares of the specialty retailer’s stock after purchasing an additional 239 shares during the period. WD Rutherford LLC’s holdings in Genuine Parts were worth $894,000 at the end of the most recent quarter.

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

Genuine Parts Price Performance

Shares of NYSE GPC opened at $124.87 on Friday. The company has a market capitalization of $17.36 billion, a price-to-earnings ratio of 16.07 and a beta of 0.94. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The business has a 50-day moving average of $118.36 and a 200-day moving average of $127.75.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.20%. Genuine Parts’s dividend payout ratio is currently 51.48%.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the transaction, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Loop Capital started coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Wedbush decreased their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Truist Financial dropped their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. 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 currently 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.