Atria Wealth Solutions Inc. Boosts Stake in Genuine Parts (NYSE:GPC)

Atria Wealth Solutions Inc. lifted its position in shares of Genuine Parts (NYSE:GPCFree Report) by 26.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,813 shares of the specialty retailer’s stock after purchasing an additional 2,293 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Genuine Parts were worth $1,571,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GPC. Amalgamated Bank increased its stake in shares of Genuine Parts by 10.7% during the third quarter. Amalgamated Bank now owns 41,734 shares of the specialty retailer’s stock valued at $6,026,000 after purchasing an additional 4,047 shares in the last quarter. Milestone Investment Advisors LLC bought a new position in Genuine Parts during the 3rd quarter valued at approximately $28,000. Pinnacle West Asset Management Inc. raised its stake in Genuine Parts by 6.4% during the third quarter. Pinnacle West Asset Management Inc. now owns 6,250 shares of the specialty retailer’s stock valued at $902,000 after buying an additional 375 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Genuine Parts in the third quarter worth $9,086,000. Finally, Eagle Strategies LLC purchased a new stake in shares of Genuine Parts in the third quarter worth $782,000. 77.51% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Read Our Latest Stock Analysis on Genuine Parts

Genuine Parts Stock Up 0.6 %

GPC stock opened at $143.18 on Monday. The company has a market cap of $20.07 billion, a price-to-earnings ratio of 16.20, a P/E/G ratio of 1.56 and a beta of 0.94. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.58 and a current ratio of 1.16. The business’s 50-day moving average is $139.14 and its two-hundred day moving average is $142.81. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $181.37.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st were paid a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 2.65%. The ex-dividend date was Thursday, November 30th. Genuine Parts’s dividend payout ratio (DPR) 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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