Optimist Retirement Group LLC Lowers Position in Genuine Parts (NYSE:GPC)

Optimist Retirement Group LLC trimmed its position in shares of Genuine Parts (NYSE:GPC) by 84.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,528 shares of the specialty retailer’s stock after selling 13,274 shares during the period. Optimist Retirement Group LLC’s holdings in Genuine Parts were worth $295,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in GPC. Ashton Thomas Securities LLC acquired a new stake in Genuine Parts in the third quarter valued at approximately $26,000. Capital Performance Advisors LLP purchased a new position in shares of Genuine Parts during the 3rd quarter valued at approximately $31,000. Synergy Asset Management LLC acquired a new stake in Genuine Parts in the 4th quarter valued at $32,000. Concord Wealth Partners increased its holdings in 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 acquiring an additional 119 shares in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in Genuine Parts during the third quarter worth $44,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the transaction, the director now owns 11,357 shares of the company’s stock, valued at approximately $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 can be accessed through this link. 0.37% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GPC shares. Wedbush dropped their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. UBS Group lowered their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. The Goldman Sachs Group reduced their target price on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Truist Financial lowered their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Genuine Parts has an average rating of “Hold” and a consensus target price of $141.50.

Genuine Parts Trading Up 0.8 %

Shares of Genuine Parts stock opened at $118.43 on Thursday. 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 stock’s 50 day simple moving average is $119.06 and its 200-day simple moving average is $128.68. The stock has a market cap of $16.47 billion, a P/E ratio of 15.24 and a beta of 0.94. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45.

Genuine Parts Announces Dividend

The business also recently disclosed 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 yield of 3.38%. The ex-dividend date was Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is currently 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.