Caitlin John LLC Reduces Stock Holdings in Genuine Parts (NYSE:GPC)

Caitlin John LLC reduced its stake in shares of Genuine Parts (NYSE:GPC) by 16.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,887 shares of the specialty retailer’s stock after selling 559 shares during the quarter. Caitlin John LLC’s holdings in Genuine Parts were worth $337,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in shares of Genuine Parts in the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP bought a new stake in shares of Genuine Parts during the 3rd quarter valued at $31,000. Concord Wealth Partners grew its position in shares of Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after buying an additional 119 shares during the period. Synergy Asset Management LLC bought a new position in shares of Genuine Parts in the 4th quarter worth about $32,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Genuine Parts during the 3rd quarter valued at about $44,000. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Performance

GPC opened at $118.43 on Thursday. The company’s 50 day moving average is $119.06 and its 200 day moving average is $128.68. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The company has a market cap of $16.47 billion, a price-to-earnings ratio of 15.24 and a beta of 0.94. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45.

Genuine Parts Dividend Announcement

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 dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Friday, December 6th. Genuine Parts’s payout ratio is 51.48%.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was 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 directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.37% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Loop Capital began coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective on the stock. JPMorgan Chase & Co. reduced their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Evercore ISI lifted their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating 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 report on Friday, January 17th. Finally, Truist Financial reduced their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $141.50.

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.