Fairvoy Private Wealth LLC Acquires Shares of 64,292 Genuine Parts (NYSE:GPC)

Fairvoy Private Wealth LLC bought a new position in Genuine Parts (NYSE:GPC) in the 4th quarter, Holdings Channel.com reports. The fund bought 64,292 shares of the specialty retailer’s stock, valued at approximately $7,507,000. Genuine Parts comprises approximately 2.0% of Fairvoy Private Wealth LLC’s investment portfolio, making the stock its 14th biggest holding.

Several other large investors also recently added to or reduced their stakes in GPC. International Assets Investment Management LLC grew its position in Genuine Parts by 14,222.1% in the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock worth $81,621,000 after acquiring an additional 580,262 shares in the last quarter. State Street Corp grew its position in Genuine Parts by 5.4% in the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock worth $1,103,300,000 after acquiring an additional 401,180 shares in the last quarter. Boston Trust Walden Corp bought a new stake in Genuine Parts in the third quarter worth approximately $39,474,000. Caisse DE Depot ET Placement DU Quebec grew its position in Genuine Parts by 1,038.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer’s stock worth $38,803,000 after acquiring an additional 253,400 shares in the last quarter. Finally, Synovus Financial Corp grew its position in Genuine Parts by 95.4% in the third quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer’s stock worth $54,708,000 after acquiring an additional 191,272 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

GPC has been the subject of several recent research reports. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. decreased their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Evercore ISI upped their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. Finally, Truist Financial decreased their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Genuine Parts presently has a consensus rating of “Hold” and an average price target of $141.50.

Genuine Parts Price Performance

Shares of Genuine Parts stock opened at $117.99 on Friday. 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 has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The firm has a fifty day moving average price of $118.88 and a two-hundred day moving average price of $128.61. The company has a market cap of $16.41 billion, a PE ratio of 15.19 and a beta of 0.94.

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 paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s dividend payout ratio is 51.48%.

Insider Activity

In other news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction on 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.37% of the company’s stock.

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.