OLD National Bancorp IN Sells 1,814 Shares of Genuine Parts (NYSE:GPC)

OLD National Bancorp IN decreased its stake in Genuine Parts (NYSE:GPC) by 25.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,270 shares of the specialty retailer’s stock after selling 1,814 shares during the quarter. OLD National Bancorp IN’s holdings in Genuine Parts were worth $615,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Metis Global Partners LLC boosted its holdings in shares of Genuine Parts by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock valued at $625,000 after acquiring an additional 85 shares in the last quarter. Guardian Wealth Advisors LLC boosted its stake in shares of Genuine Parts by 2.7% during the third quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock valued at $484,000 after purchasing an additional 91 shares in the last quarter. Marco Investment Management LLC grew its holdings in shares of Genuine Parts by 1.2% during the third quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock worth $1,104,000 after purchasing an additional 91 shares during the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of Genuine Parts by 5.9% in the third quarter. First Citizens Bank & Trust Co. now owns 1,711 shares of the specialty retailer’s stock valued at $239,000 after buying an additional 95 shares during the period. Finally, Citizens Financial Group Inc. RI raised its holdings in Genuine Parts by 2.8% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer’s stock valued at $533,000 after buying an additional 103 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Truist Financial decreased 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. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Wedbush decreased their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Finally, Evercore ISI lifted their price objective 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. Eight equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $141.50.

Genuine Parts Price Performance

Genuine Parts stock opened at $116.13 on Friday. The stock has a market capitalization of $16.15 billion, a price-to-earnings ratio of 14.95 and a beta of 0.95. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The stock’s 50 day moving average price is $119.71 and its two-hundred day moving average price is $129.27.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.44%. The ex-dividend date was Friday, December 6th. Genuine Parts’s dividend payout ratio is presently 51.48%.

Insiders Place Their Bets

In other news, Director Wendy B. Needham sold 1,608 shares of the firm’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 completion of the sale, the director now directly owns 11,357 shares in the company, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.37% of the company’s stock.

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.