Wilmington Savings Fund Society FSB Cuts Position in Genuine Parts (NYSE:GPC)

Wilmington Savings Fund Society FSB lessened its stake in Genuine Parts (NYSE:GPC) by 0.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 32,338 shares of the specialty retailer’s stock after selling 138 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Genuine Parts were worth $3,776,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its position in shares of 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 valued at $81,621,000 after acquiring an additional 580,262 shares in the last quarter. State Street Corp raised its position in shares of Genuine Parts by 5.4% in the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock valued at $1,103,300,000 after buying an additional 401,180 shares during the last quarter. Boston Trust Walden Corp purchased a new position in shares of Genuine Parts in the third quarter worth about $39,474,000. Caisse DE Depot ET Placement DU Quebec boosted its position in Genuine Parts by 1,038.4% during 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 during the last quarter. Finally, Synovus Financial Corp grew its stake in Genuine Parts by 95.4% during the 3rd quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer’s stock valued at $54,708,000 after acquiring an additional 191,272 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Performance

NYSE:GPC opened at $117.77 on Friday. The firm has a market cap of $16.37 billion, a price-to-earnings ratio of 15.16 and a beta of 0.94. The firm’s fifty day moving average price is $118.70 and its 200 day moving average price is $128.41. 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 1-year low of $112.74 and a 1-year high of $164.45.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s dividend payout ratio is presently 51.48%.

Insider Activity

In related news, Director Wendy B. Needham sold 1,608 shares of the business’s 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 sale, the director now directly owns 11,357 shares in the company, valued at $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GPC shares. The Goldman Sachs Group cut 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 report on Wednesday, October 23rd. Loop Capital started coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price target on the stock. Truist Financial dropped 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. Wedbush dropped their target price on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Finally, StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. 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 MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.