Savant Capital LLC Grows Stock Holdings in Genuine Parts (NYSE:GPC)

Savant Capital LLC raised its position in Genuine Parts (NYSE:GPC) by 6.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 29,637 shares of the specialty retailer’s stock after purchasing an additional 1,819 shares during the quarter. Savant Capital LLC’s holdings in Genuine Parts were worth $3,460,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of GPC. Ashton Thomas Securities LLC purchased a new position in shares of Genuine Parts in the third quarter valued at about $26,000. Capital Performance Advisors LLP purchased a new position in shares of Genuine Parts in the third quarter valued at about $31,000. Synergy Asset Management LLC purchased a new position in shares of Genuine Parts in the fourth quarter valued at about $32,000. Concord Wealth Partners increased its position in shares of Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 119 shares during the period. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Genuine Parts during the third quarter valued at about $44,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GPC shares. Truist Financial decreased their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Evercore ISI increased their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Wedbush decreased their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Finally, StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $141.50.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $121.75 on Wednesday. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company has a 50 day simple moving average of $118.41 and a two-hundred day simple moving average of $128.07. The company has a market capitalization of $16.93 billion, a price-to-earnings ratio of 15.67 and a beta of 0.94. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s dividend payout ratio is 51.48%.

Insider Buying and Selling at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the sale, the director now owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.37% of the company’s stock.

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.