Genuine Parts (NYSE:GPC) Shares Purchased by Vest Financial LLC

Vest Financial LLC grew its position in shares of Genuine Parts (NYSE:GPC) by 40.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 501,802 shares of the specialty retailer’s stock after purchasing an additional 144,091 shares during the quarter. Genuine Parts accounts for 1.0% of Vest Financial LLC’s portfolio, making the stock its 11th largest position. Vest Financial LLC’s holdings in Genuine Parts were worth $58,590,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in Genuine Parts during the third quarter valued at about $26,000. Capital Performance Advisors LLP bought a new position in shares of Genuine Parts during the 3rd quarter valued at about $31,000. Concord Wealth Partners grew its stake 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 purchasing an additional 119 shares during the last quarter. Synergy Asset Management LLC acquired a new stake in Genuine Parts during the fourth quarter valued at approximately $32,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Genuine Parts during the third quarter worth approximately $44,000. Institutional investors own 78.83% of the company’s stock.

Insider Activity at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the company’s 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 sale, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

GPC has been the subject of several research reports. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. reduced their price target on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Loop Capital began coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 target price on the stock. Evercore ISI upped their price target on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. Finally, UBS Group decreased their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Genuine Parts presently has an average rating of “Hold” and a consensus price target of $141.50.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $117.77 on Friday. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The business’s 50-day moving average price is $118.70 and its two-hundred day moving average price is $128.47. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The company has a market capitalization of $16.37 billion, a P/E ratio of 15.16 and a beta of 0.94.

Genuine Parts Announces Dividend

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

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.