Genuine Parts Company $GPC Shares Sold by Alps Advisors Inc.

Alps Advisors Inc. reduced its position in Genuine Parts Company (NYSE:GPC) by 11.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 173,642 shares of the specialty retailer’s stock after selling 22,666 shares during the quarter. Alps Advisors Inc. owned about 0.12% of Genuine Parts worth $24,067,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Genuine Parts during the 2nd quarter worth about $211,661,000. Federated Hermes Inc. acquired a new position in Genuine Parts during the second quarter valued at approximately $107,015,000. Nomura Holdings Inc. lifted its position in Genuine Parts by 142.1% during the second 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 in the last quarter. Pzena Investment Management LLC grew its stake in Genuine Parts by 98.0% during the second quarter. Pzena Investment Management LLC now owns 596,051 shares of the specialty retailer’s stock worth $72,307,000 after buying an additional 295,064 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Genuine Parts by 1.5% in 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 in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Up 1.5%

NYSE:GPC opened at $148.42 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 1.14. The company has a market capitalization of $20.65 billion, a price-to-earnings ratio of 25.55 and a beta of 0.74. Genuine Parts Company has a one year low of $104.01 and a one year high of $148.58. The stock has a 50-day simple moving average of $131.63 and a 200 day simple moving average of $133.04.

Genuine Parts Dividend Announcement

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. The ex-dividend date was Friday, December 5th. This represents a $4.12 annualized dividend and a yield of 2.8%. Genuine Parts’s dividend payout ratio (DPR) is 70.91%.

Analysts Set New Price Targets

GPC has been the topic of several recent research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Genuine Parts in a report on Monday, December 29th. The Goldman Sachs Group upgraded shares of Genuine Parts from a “sell” rating to a “neutral” rating and upped their target price for the company from $130.00 to $142.00 in a research note on Thursday, November 13th. JPMorgan Chase & Co. lifted their price target on shares of Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Finally, Truist Financial boosted their price objective on shares of Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Genuine Parts has an average rating of “Moderate Buy” and an average price target of $148.00.

About Genuine Parts

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.