V Square Quantitative Management LLC Purchases 926 Shares of Genuine Parts (NYSE:GPC)

V Square Quantitative Management LLC boosted its position in shares of Genuine Parts (NYSE:GPC) by 20.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 5,395 shares of the specialty retailer’s stock after purchasing an additional 926 shares during the period. V Square Quantitative Management LLC’s holdings in Genuine Parts were worth $630,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Exchange Traded Concepts LLC increased its holdings in shares of Genuine Parts by 284.4% in the third quarter. Exchange Traded Concepts LLC now owns 1,999 shares of the specialty retailer’s stock worth $279,000 after purchasing an additional 1,479 shares during the period. Vontobel Holding Ltd. increased its holdings in shares of Genuine Parts by 2.9% in the third quarter. Vontobel Holding Ltd. now owns 4,927 shares of the specialty retailer’s stock worth $688,000 after purchasing an additional 137 shares during the period. Good Life Advisors LLC bought a new position in shares of Genuine Parts in the third quarter worth $262,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Genuine Parts by 1.1% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,024 shares of the specialty retailer’s stock worth $2,238,000 after purchasing an additional 171 shares during the period. Finally, Inspire Advisors LLC increased its holdings in shares of Genuine Parts by 19.2% in the third quarter. Inspire Advisors LLC now owns 3,726 shares of the specialty retailer’s stock worth $520,000 after purchasing an additional 601 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

NYSE GPC opened at $124.87 on Friday. The company has a 50-day simple moving average of $118.36 and a two-hundred day simple moving average of $127.75. 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 12-month low of $112.74 and a 12-month high of $164.45. The firm has a market cap of $17.36 billion, a price-to-earnings ratio of 16.07 and a beta of 0.94.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were given a $1.00 dividend. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.20%. Genuine Parts’s payout ratio is currently 51.48%.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the business’s 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 sale, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Truist Financial decreased their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Wedbush cut their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Finally, The Goldman Sachs Group cut 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. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $141.50.

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.