Soltis Investment Advisors LLC Has $4.63 Million Stock Holdings in Genuine Parts (NYSE:GPC)

Soltis Investment Advisors LLC grew its holdings in Genuine Parts (NYSE:GPC) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,681 shares of the specialty retailer’s stock after acquiring an additional 2,747 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Genuine Parts were worth $4,633,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in Genuine Parts in the 3rd quarter valued at about $26,000. Capital Performance Advisors LLP acquired a new stake in Genuine Parts during the third quarter worth approximately $31,000. Synergy Asset Management LLC bought a new position in Genuine Parts during the 4th quarter worth $32,000. Concord Wealth Partners raised 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 in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Genuine Parts during the 3rd quarter valued at $44,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GPC has been the topic of a number of analyst reports. UBS Group reduced their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” 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 on the stock in a research note on Tuesday, October 22nd. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Wedbush decreased their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Finally, 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 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. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $141.50.

Insider Buying and Selling

In other news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.37% of the stock is owned by corporate insiders.

Genuine Parts Price Performance

Shares of GPC opened at $117.77 on Monday. 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 stock has a market cap of $16.37 billion, a PE ratio of 15.16 and a beta of 0.94. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The business has a 50-day simple moving average of $118.70 and a two-hundred day simple moving average of $128.35.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were issued a $1.00 dividend. 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 3.40%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

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.