Genuine Parts (NYSE:GPC) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System cut its holdings in Genuine Parts (NYSE:GPCFree Report) by 6.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 157,086 shares of the specialty retailer’s stock after selling 10,770 shares during the period. State Board of Administration of Florida Retirement System owned about 0.11% of Genuine Parts worth $22,680,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Imprint Wealth LLC boosted its stake in Genuine Parts by 16,507.5% during the 2nd quarter. Imprint Wealth LLC now owns 2,611,194 shares of the specialty retailer’s stock valued at $261,119,000 after purchasing an additional 2,595,471 shares during the period. Norges Bank acquired a new stake in shares of Genuine Parts in the 4th quarter worth approximately $239,384,000. Capital World Investors acquired a new stake in shares of Genuine Parts in the 1st quarter worth approximately $124,130,000. Osaic Holdings Inc. lifted its stake in shares of Genuine Parts by 820.4% in the 2nd quarter. Osaic Holdings Inc. now owns 759,062 shares of the specialty retailer’s stock worth $14,426,000 after acquiring an additional 676,588 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Genuine Parts by 239.0% in the 1st quarter. Renaissance Technologies LLC now owns 774,700 shares of the specialty retailer’s stock worth $129,615,000 after acquiring an additional 546,200 shares during the period. 77.51% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Trading Up 0.6 %

Shares of GPC stock opened at $143.18 on Friday. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $181.37. The company has a market capitalization of $20.07 billion, a P/E ratio of 16.20, a P/E/G ratio of 1.56 and a beta of 0.94. The firm has a 50-day moving average price of $139.14 and a 200 day moving average price of $142.92. The company has a quick ratio of 0.58, a current ratio of 1.16 and a debt-to-equity ratio of 0.71.

Genuine Parts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st were paid a $0.95 dividend. This represents a $3.80 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Thursday, November 30th. Genuine Parts’s dividend payout ratio is presently 42.99%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GPC. The Goldman Sachs Group reduced their price target on shares of Genuine Parts from $178.00 to $152.00 and set a “neutral” rating for the company in a research note on Friday, October 20th. JPMorgan Chase & Co. boosted their target price on shares of Genuine Parts from $184.00 to $189.00 and gave the stock an “overweight” rating in a report on Monday, October 16th. Wedbush dropped their target price on shares of Genuine Parts from $160.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, October 20th. Finally, 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. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Genuine Parts has a consensus rating of “Moderate Buy” and a consensus price target of $168.11.

Check Out Our Latest Stock Report on Genuine Parts

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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