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

Howe & Rusling Inc. reduced its holdings in shares of Genuine Parts Company (NYSE:GPC) by 85.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 6,233 shares of the specialty retailer’s stock after selling 36,851 shares during the period. Howe & Rusling Inc.’s holdings in Genuine Parts were worth $864,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Genuine Parts during the second quarter valued at $211,661,000. Federated Hermes Inc. bought a new stake in Genuine Parts during the 2nd quarter valued at about $107,015,000. Nomura Holdings Inc. boosted its position in Genuine Parts by 142.1% in the 2nd quarter. Nomura Holdings Inc. now owns 529,330 shares of the specialty retailer’s stock valued at $64,213,000 after buying an additional 310,715 shares during the period. Pzena Investment Management LLC grew its stake in Genuine Parts by 98.0% in the 2nd quarter. Pzena Investment Management LLC now owns 596,051 shares of the specialty retailer’s stock worth $72,307,000 after acquiring an additional 295,064 shares in the last quarter. Finally, Vanguard Group Inc. increased its position 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 worth $2,099,776,000 after acquiring an additional 260,787 shares during the period. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

GPC opened at $146.05 on Friday. The firm has a market capitalization of $20.32 billion, a PE ratio of 25.14 and a beta of 0.74. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.14 and a quick ratio of 0.51. The business’s 50-day moving average is $131.27 and its two-hundred day moving average is $132.87. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $148.30.

Genuine Parts Announces Dividend

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

Analyst Ratings Changes

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