Pensionfund Sabic Increases Stake in Genuine Parts (NYSE:GPC)

Pensionfund Sabic increased its stake in Genuine Parts (NYSE:GPC) by 68.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,300 shares of the specialty retailer’s stock after purchasing an additional 5,000 shares during the period. Pensionfund Sabic’s holdings in Genuine Parts were worth $1,436,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Metis Global Partners LLC lifted its stake in shares of Genuine Parts by 1.9% during the third quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock worth $625,000 after buying an additional 85 shares during the period. Guardian Wealth Advisors LLC lifted its position in Genuine Parts by 2.7% during the 3rd quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock worth $484,000 after acquiring an additional 91 shares during the period. Marco Investment Management LLC grew its stake in Genuine Parts by 1.2% during the 3rd quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock valued at $1,104,000 after purchasing an additional 91 shares during the last quarter. Pinnacle West Asset Management Inc. increased its holdings in shares of Genuine Parts by 1.4% in the second quarter. Pinnacle West Asset Management Inc. now owns 6,705 shares of the specialty retailer’s stock valued at $927,000 after purchasing an additional 95 shares during the period. Finally, First Citizens Bank & Trust Co. lifted its holdings in shares of Genuine Parts by 5.9% during the third quarter. First Citizens Bank & Trust Co. now owns 1,711 shares of the specialty retailer’s stock worth $239,000 after purchasing an additional 95 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

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 stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the transaction, the director now owns 11,357 shares in the company, valued at $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 is available at the SEC website. Corporate insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Evercore ISI increased their target price 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. UBS Group cut their target price on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a report on Monday, November 11th. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Truist Financial cut 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. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $139.57.

Genuine Parts Stock Up 1.1 %

Genuine Parts stock traded up $1.28 during mid-day trading on Monday, hitting $118.14. The company had a trading volume of 96,552 shares, compared to its average volume of 764,017. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The business has a fifty day moving average of $120.88 and a 200 day moving average of $131.84. The stock has a market cap of $16.43 billion, a price-to-earnings ratio of 15.20 and a beta of 0.95.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a net margin of 4.67% and a return on equity of 27.23%. The company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same period last year, the firm earned $2.49 earnings per share. Genuine Parts’s revenue was up 3.0% on a year-over-year basis. On average, sell-side analysts expect that Genuine Parts will post 8.09 earnings per share for the current fiscal year.

Genuine Parts Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.39%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

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.