Genuine Parts Company $GPC Stock Position Decreased by Alps Advisors Inc.

Alps Advisors Inc. decreased its holdings in shares of Genuine Parts Company (NYSE:GPC) by 11.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 173,642 shares of the specialty retailer’s stock after selling 22,666 shares during the quarter. Alps Advisors Inc.’s holdings in Genuine Parts were worth $24,067,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GPC. Synergy Asset Management LLC raised its stake in Genuine Parts by 272.7% during the 3rd quarter. Synergy Asset Management LLC now owns 108,028 shares of the specialty retailer’s stock valued at $14,706,000 after acquiring an additional 79,044 shares in the last quarter. Caldwell Trust Co acquired a new position in shares of Genuine Parts during the second quarter valued at $3,323,000. Vanguard Group Inc. raised its stake in shares of 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 purchasing an additional 260,787 shares in the last quarter. Prudential Financial Inc. lifted its holdings in Genuine Parts by 5.8% in the second quarter. Prudential Financial Inc. now owns 79,557 shares of the specialty retailer’s stock worth $9,651,000 after purchasing an additional 4,374 shares during the period. Finally, AE Wealth Management LLC lifted its holdings in Genuine Parts by 7.1% in the third quarter. AE Wealth Management LLC now owns 153,578 shares of the specialty retailer’s stock worth $21,286,000 after purchasing an additional 10,121 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on GPC shares. JPMorgan Chase & Co. raised their target price on shares of Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Truist Financial boosted their target price on Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Weiss Ratings restated a “hold (c-)” rating on shares of Genuine Parts in a research report on Monday, December 29th. Finally, The Goldman Sachs Group upgraded Genuine Parts from a “sell” rating to a “neutral” rating and lifted their price target for the company from $130.00 to $142.00 in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

Genuine Parts Trading Up 1.5%

Shares of NYSE:GPC opened at $148.42 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. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $148.58. The firm has a fifty day moving average of $131.63 and a two-hundred day moving average of $133.04. The firm has a market capitalization of $20.65 billion, a P/E ratio of 25.55 and a beta of 0.74.

Genuine Parts Dividend Announcement

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

Genuine Parts 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.