SRH Advisors LLC Increases Position in Genuine Parts (NYSE:GPC)

SRH Advisors LLC boosted its holdings in shares of Genuine Parts (NYSE:GPC) by 50.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,500 shares of the specialty retailer’s stock after purchasing an additional 500 shares during the quarter. SRH Advisors LLC’s holdings in Genuine Parts were worth $175,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GPC. Stonebridge Financial Group LLC purchased a new position in Genuine Parts during the fourth quarter valued at $45,000. Soltis Investment Advisors LLC raised its position in shares of Genuine Parts by 7.4% during the 4th quarter. Soltis Investment Advisors LLC now owns 39,681 shares of the specialty retailer’s stock worth $4,633,000 after purchasing an additional 2,747 shares during the last quarter. Savant Capital LLC lifted its stake in Genuine Parts by 6.5% in the 4th quarter. Savant Capital LLC now owns 29,637 shares of the specialty retailer’s stock valued at $3,460,000 after buying an additional 1,819 shares in the last quarter. Kestra Private Wealth Services LLC boosted its holdings in Genuine Parts by 110.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 29,500 shares of the specialty retailer’s stock worth $3,444,000 after buying an additional 15,474 shares during the last quarter. Finally, Stephens Inc. AR increased its stake in Genuine Parts by 350.8% during the 4th quarter. Stephens Inc. AR now owns 52,854 shares of the specialty retailer’s stock worth $6,171,000 after buying an additional 41,129 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GPC shares. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. decreased their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Loop Capital initiated 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. The Goldman Sachs Group reduced their target price 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. Finally, UBS Group lowered their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $141.50.

Genuine Parts Price Performance

Genuine Parts stock opened at $121.75 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The company has a 50-day moving average price of $118.41 and a 200 day moving average price of $128.07. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The stock has a market cap of $16.93 billion, a P/E ratio of 15.67 and a beta of 0.94.

Genuine Parts Announces Dividend

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

Insider Activity

In related news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was 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 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 legal filing with the SEC, which is accessible through this link. Corporate 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.