Genuine Parts (NYSE:GPC) Shares Bought by Empowered Funds LLC

Empowered Funds LLC raised its position in Genuine Parts (NYSE:GPC) by 28.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,253 shares of the specialty retailer’s stock after buying an additional 7,276 shares during the period. Empowered Funds LLC’s holdings in Genuine Parts were worth $3,883,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in shares of Genuine Parts during the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP purchased a new stake in Genuine Parts in the third quarter valued at approximately $31,000. Synergy Asset Management LLC purchased a new stake in Genuine Parts in the fourth quarter valued at approximately $32,000. 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 period. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Genuine Parts during the third quarter worth $44,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

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 transaction of $194,214.24. Following the completion of the sale, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on GPC. The Goldman Sachs Group cut their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Loop Capital assumed coverage on Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price on the stock. Redburn Atlantic raised Genuine Parts to a “hold” rating in a report on Monday, November 11th. Truist Financial dropped their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, Wedbush dropped their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a 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 stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $141.50.

Genuine Parts Stock Performance

NYSE GPC opened at $122.13 on Thursday. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The company has a market capitalization of $16.98 billion, a PE ratio of 15.72 and a beta of 0.94. The company has a fifty day moving average of $118.33 and a two-hundred day moving average of $128.03. 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 Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 3.28%. Genuine Parts’s dividend payout ratio (DPR) is 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.