Genuine Parts (NYSE:GPC) Stock Position Cut by Montag A & Associates Inc.

Montag A & Associates Inc. reduced its position in Genuine Parts (NYSE:GPCFree Report) by 0.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,977 shares of the specialty retailer’s stock after selling 84 shares during the quarter. Montag A & Associates Inc.’s holdings in Genuine Parts were worth $8,716,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Navellier & Associates Inc. increased its holdings in shares of Genuine Parts by 67.5% during the 3rd quarter. Navellier & Associates Inc. now owns 33,407 shares of the specialty retailer’s stock worth $4,823,000 after acquiring an additional 13,457 shares during the last quarter. Deutsche Bank AG lifted its position in Genuine Parts by 2.2% in the 3rd quarter. Deutsche Bank AG now owns 477,136 shares of the specialty retailer’s stock valued at $68,889,000 after acquiring an additional 10,191 shares in the last quarter. Hunter Associates Investment Management LLC increased its stake in Genuine Parts by 26.4% in the 3rd quarter. Hunter Associates Investment Management LLC now owns 9,850 shares of the specialty retailer’s stock valued at $1,421,000 after buying an additional 2,060 shares during the last quarter. Hamilton Point Investment Advisors LLC raised its holdings in shares of Genuine Parts by 0.9% in the 3rd quarter. Hamilton Point Investment Advisors LLC now owns 34,031 shares of the specialty retailer’s stock worth $4,946,000 after purchasing an additional 309 shares during the period. Finally, Blair William & Co. IL grew its position in shares of Genuine Parts by 2.8% during the 3rd quarter. Blair William & Co. IL now owns 12,091 shares of the specialty retailer’s stock valued at $1,746,000 after purchasing an additional 324 shares in the last quarter. 77.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Truist Financial dropped their target price on shares of Genuine Parts from $172.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, October 20th. Wedbush reduced their price objective on shares of Genuine Parts from $160.00 to $140.00 and set a “neutral” rating for the company in a research report on Friday, October 20th. JPMorgan Chase & Co. increased their target price on shares of Genuine Parts from $184.00 to $189.00 and gave the stock an “overweight” rating in a research note on Monday, October 16th. Finally, The Goldman Sachs Group cut their price objective on shares of Genuine Parts from $178.00 to $152.00 and set a “neutral” rating on the stock in a report on Friday, October 20th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $168.11.

Check Out Our Latest Stock Report on GPC

Genuine Parts Stock Performance

Shares of GPC stock traded up $1.96 during trading on Monday, hitting $145.14. The company’s stock had a trading volume of 1,111,555 shares, compared to its average volume of 873,715. The company has a current ratio of 1.16, a quick ratio of 0.58 and a debt-to-equity ratio of 0.71. The business has a fifty day moving average of $139.14 and a 200-day moving average of $142.81. Genuine Parts has a 52 week low of $126.35 and a 52 week high of $181.37. The company has a market cap of $20.35 billion, a PE ratio of 16.20, a P/E/G ratio of 1.56 and a beta of 0.94.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 1st were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $3.80 annualized dividend and a dividend yield of 2.62%. Genuine Parts’s dividend payout ratio is presently 42.99%.

Genuine Parts Company Profile

(Free Report)

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates through 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 accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.

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Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

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