Oppenheimer Asset Management Inc. Sells 4,229 Shares of Genuine Parts Company $GPC

Oppenheimer Asset Management Inc. cut its holdings in shares of Genuine Parts Company (NYSE:GPC) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 151,848 shares of the specialty retailer’s stock after selling 4,229 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Genuine Parts were worth $21,046,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GPC. Peoples Financial Services CORP. purchased a new position in Genuine Parts during the 3rd quarter valued at $29,000. Golden State Wealth Management LLC boosted its stake in shares of Genuine Parts by 8,833.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 268 shares of the specialty retailer’s stock valued at $33,000 after purchasing an additional 265 shares in the last quarter. Concord Wealth Partners increased its position in shares of Genuine Parts by 148.7% during the second quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock valued at $36,000 after buying an additional 177 shares during the period. Hantz Financial Services Inc. raised its stake in Genuine Parts by 7,825.0% in the second quarter. Hantz Financial Services Inc. now owns 317 shares of the specialty retailer’s stock worth $38,000 after buying an additional 313 shares in the last quarter. Finally, Quaker Wealth Management LLC lifted its holdings in Genuine Parts by 11,533.3% in the second quarter. Quaker Wealth Management LLC now owns 343 shares of the specialty retailer’s stock worth $42,000 after buying an additional 346 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Up 1.5%

Shares of NYSE:GPC opened at $148.42 on Monday. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.78. The stock has a fifty day simple moving average of $131.63 and a two-hundred day simple moving average of $133.03. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $148.58. The stock has a market capitalization of $20.65 billion, a price-to-earnings 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 given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, December 5th. Genuine Parts’s dividend payout ratio is 70.91%.

Analyst Ratings Changes

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