Genuine Parts (NYSE:GPC) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its holdings in Genuine Parts (NYSE:GPC) by 16.4% in the fourth quarter, HoldingsChannel reports. The firm owned 1,077,031 shares of the specialty retailer’s stock after selling 211,396 shares during the quarter. Truist Financial Corp’s holdings in Genuine Parts were worth $125,754,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GPC. Ashton Thomas Securities LLC acquired a new position in shares of Genuine Parts in the third quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new position in shares of Genuine Parts in the third quarter valued at approximately $31,000. Synergy Asset Management LLC acquired a new position in shares of Genuine Parts in the fourth quarter valued at approximately $32,000. Concord Wealth Partners grew its holdings in shares of Genuine Parts by 79.3% in the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 119 shares in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Genuine Parts in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Evercore ISI lifted their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd. Loop Capital began coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. UBS Group decreased their price target 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. Finally, JPMorgan Chase & Co. decreased 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 note on Tuesday, October 22nd. Eight equities research 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. Based on data from MarketBeat.com, Genuine Parts presently has a consensus rating of “Hold” and a consensus price target of $141.50.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts 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 transaction, the director now directly owns 11,357 shares of the company’s stock, 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 through this link. Insiders own 0.37% of the company’s stock.

Genuine Parts Stock Up 0.2 %

Shares of NYSE:GPC opened at $124.87 on Monday. The company has a market capitalization of $17.36 billion, a PE ratio of 16.07 and a beta of 0.94. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. The firm has a 50 day simple moving average of $118.36 and a 200-day simple moving average of $127.61.

Genuine Parts Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 3.20%. Genuine Parts’s dividend payout ratio is presently 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.