Pacer Advisors Inc. Increases Stock Holdings in Genuine Parts (NYSE:GPC)

Pacer Advisors Inc. increased its holdings in Genuine Parts (NYSE:GPC) by 20.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,701 shares of the specialty retailer’s stock after acquiring an additional 2,191 shares during the quarter. Pacer Advisors Inc.’s holdings in Genuine Parts were worth $1,483,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp lifted its stake in Genuine Parts by 5.4% in the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock worth $1,103,300,000 after acquiring an additional 401,180 shares during the period. Geode Capital Management LLC lifted its stake in Genuine Parts by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,296,965 shares of the specialty retailer’s stock worth $458,947,000 after acquiring an additional 32,858 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Genuine Parts by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,743,970 shares of the specialty retailer’s stock valued at $383,511,000 after buying an additional 30,354 shares during the period. Stifel Financial Corp lifted its position in Genuine Parts by 1.2% during the third quarter. Stifel Financial Corp now owns 2,057,593 shares of the specialty retailer’s stock valued at $287,405,000 after buying an additional 25,015 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Genuine Parts by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 1,840,807 shares of the specialty retailer’s stock valued at $257,124,000 after buying an additional 114,180 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. The Goldman Sachs Group lowered their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Evercore ISI raised their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lowered their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Truist Financial lowered their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Finally, Wedbush lowered their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $141.50.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the sale, the director now directly owns 11,357 shares in the company, valued at $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.37% of the stock is owned by corporate insiders.

Genuine Parts Price Performance

NYSE GPC opened at $116.13 on Friday. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The stock has a 50-day moving average of $119.71 and a 200 day moving average of $129.18. The company has a market capitalization of $16.15 billion, a price-to-earnings ratio of 14.95 and a beta of 0.95. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were issued a $1.00 dividend. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.44%. Genuine Parts’s payout ratio is 51.48%.

About Genuine Parts

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: 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 equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.