Nilsine Partners LLC Increases Position in Genuine Parts (NYSE:GPC)

Nilsine Partners LLC increased its position in Genuine Parts (NYSE:GPC) by 14.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,726 shares of the specialty retailer’s stock after acquiring an additional 340 shares during the period. Nilsine Partners LLC’s holdings in Genuine Parts were worth $318,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GPC. Ashton Thomas Securities LLC acquired a new stake in Genuine Parts in the 3rd quarter valued at about $26,000. Capital Performance Advisors LLP purchased a new stake in shares of Genuine Parts in the third quarter valued at about $31,000. Concord Wealth Partners boosted its stake in shares of Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 119 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Genuine Parts in the 3rd quarter worth approximately $44,000. Finally, Armstrong Advisory Group Inc. boosted its holdings in shares of Genuine Parts by 63.8% during the third quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock worth $51,000 after purchasing an additional 141 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on GPC shares. Wedbush reduced their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. UBS Group decreased their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Finally, The Goldman Sachs Group lowered their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $141.50.

Insider Buying and Selling

In other news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction that occurred 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 sale, the director now owns 11,357 shares in the company, 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 this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Genuine Parts Stock Down 0.7 %

Shares of NYSE GPC opened at $116.51 on Thursday. The stock has a fifty day moving average price of $119.97 and a 200 day moving average price of $129.52. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The company has a market cap of $16.20 billion, a P/E ratio of 14.99 and a beta of 0.95.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were issued 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 3.43%. Genuine Parts’s payout ratio is currently 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.