Pathway Financial Advisers LLC Has $1.19 Million Stake in Genuine Parts (NYSE:GPC)

Pathway Financial Advisers LLC increased its stake in shares of Genuine Parts (NYSE:GPC) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 10,166 shares of the specialty retailer’s stock after buying an additional 152 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Genuine Parts were worth $1,187,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its stake in shares of Genuine Parts by 3.5% during the 4th quarter. Van ECK Associates Corp now owns 23,866 shares of the specialty retailer’s stock valued at $2,787,000 after buying an additional 809 shares during the period. Naples Global Advisors LLC boosted its position in Genuine Parts by 34.0% during the fourth quarter. Naples Global Advisors LLC now owns 18,464 shares of the specialty retailer’s stock valued at $2,173,000 after purchasing an additional 4,686 shares during the last quarter. Avidian Wealth Enterprises LLC purchased a new position in Genuine Parts in the fourth quarter valued at about $270,000. Great Lakes Retirement Inc. grew its stake in Genuine Parts by 1.4% in the fourth quarter. Great Lakes Retirement Inc. now owns 10,111 shares of the specialty retailer’s stock valued at $1,190,000 after purchasing an additional 142 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. increased its position in Genuine Parts by 42.4% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 342,500 shares of the specialty retailer’s stock worth $39,990,000 after purchasing an additional 102,000 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $122.13 on Thursday. The company has a market cap of $16.98 billion, a price-to-earnings ratio of 15.72 and a beta of 0.94. The business has a 50 day moving average price of $118.33 and a 200 day moving average price of $128.03. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were given a $1.00 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.28%. Genuine Parts’s dividend payout ratio is 51.48%.

Analysts Set New Price Targets

GPC has been the subject of several recent research reports. The Goldman Sachs Group lowered their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a report on Monday, November 11th. Evercore ISI upped their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Truist Financial cut their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. decreased their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Genuine Parts has an average rating of “Hold” and a consensus target price of $141.50.

Insider Transactions at Genuine Parts

In related 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 value 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 trade represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

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.