Spire Wealth Management Sells 143 Shares of Genuine Parts (NYSE:GPC)

Spire Wealth Management lessened its position in Genuine Parts (NYSE:GPCFree Report) by 12.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 980 shares of the specialty retailer’s stock after selling 143 shares during the period. Spire Wealth Management’s holdings in Genuine Parts were worth $142,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in GPC. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Genuine Parts in the third quarter valued at approximately $25,000. OFI Invest Asset Management purchased a new position in shares of Genuine Parts during the third quarter valued at approximately $25,000. Sunbelt Securities Inc. boosted its position in shares of Genuine Parts by 122.2% during the second quarter. Sunbelt Securities Inc. now owns 160 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 88 shares during the last quarter. Briaud Financial Planning Inc purchased a new position in shares of Genuine Parts during the third quarter valued at approximately $28,000. Finally, Milestone Investment Advisors LLC purchased a new position in shares of Genuine Parts during the third quarter valued at approximately $28,000. Institutional investors and hedge funds own 77.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GPC. JPMorgan Chase & Co. lifted their target price on Genuine Parts from $184.00 to $189.00 and gave the company an “overweight” rating in a research report on Monday, October 16th. Wedbush cut their target price on Genuine Parts from $160.00 to $140.00 and set a “neutral” rating on the stock in a research report on Friday, October 20th. Truist Financial dropped their price target on Genuine Parts from $172.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, October 20th. Finally, The Goldman Sachs Group dropped their price target on Genuine Parts from $178.00 to $152.00 and set a “neutral” 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $168.11.

Read Our Latest Stock Analysis on GPC

Genuine Parts Stock Performance

Shares of GPC opened at $143.18 on Friday. The firm has a market cap of $20.07 billion, a PE ratio of 16.20, a PEG ratio of 1.55 and a beta of 0.94. The stock’s fifty day moving average price is $139.14 and its two-hundred day moving average price is $142.92. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.16 and a quick ratio of 0.58. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $181.37.

Genuine Parts Announces Dividend

The company 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. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $3.80 annualized dividend and a dividend yield of 2.65%. Genuine Parts’s payout ratio is presently 42.99%.

About Genuine Parts

(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.

See Also

Want to see what other hedge funds are holding GPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Genuine Parts (NYSE:GPCFree Report).

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

Receive News & Ratings for Genuine Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genuine Parts and related companies with MarketBeat.com's FREE daily email newsletter.