Howe & Rusling Inc. Lowers Holdings in Genuine Parts Company $GPC

Howe & Rusling Inc. trimmed its holdings in Genuine Parts Company (NYSE:GPC) by 85.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,233 shares of the specialty retailer’s stock after selling 36,851 shares during the quarter. Howe & Rusling Inc.’s holdings in Genuine Parts were worth $864,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of GPC. Vanguard Group Inc. grew its stake in Genuine Parts by 1.5% during the second quarter. Vanguard Group Inc. now owns 17,309,178 shares of the specialty retailer’s stock valued at $2,099,776,000 after acquiring an additional 260,787 shares in the last quarter. State Street Corp grew its position in shares of Genuine Parts by 0.9% during the second quarter. State Street Corp now owns 7,797,180 shares of the specialty retailer’s stock valued at $953,779,000 after purchasing an additional 73,361 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Genuine Parts by 1.2% in the second quarter. Geode Capital Management LLC now owns 3,511,008 shares of the specialty retailer’s stock worth $424,367,000 after purchasing an additional 40,970 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Genuine Parts by 2.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,080,251 shares of the specialty retailer’s stock worth $373,425,000 after buying an additional 70,668 shares in the last quarter. Finally, Norges Bank bought a new position in Genuine Parts during the second quarter valued at approximately $211,661,000. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 1.3%

Shares of GPC opened at $146.05 on Friday. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.78. The business has a fifty day moving average of $131.27 and a 200 day moving average of $132.87. The company has a market cap of $20.32 billion, a PE ratio of 25.14 and a beta of 0.74. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $148.30.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 5th. Investors of record on Friday, December 5th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, December 5th. Genuine Parts’s dividend payout ratio is presently 70.91%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. UBS Group lifted their price objective on Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Truist Financial boosted their price target on shares of Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a research note on Monday, December 29th. JPMorgan Chase & Co. lifted their price objective on shares of Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Finally, The Goldman Sachs Group upgraded shares of Genuine Parts from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $130.00 to $142.00 in a report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $148.00.

Genuine Parts Company Profile

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.