Amalgamated Bank grew its stake in shares of Genuine Parts (NYSE:GPC – Free Report) by 10.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,734 shares of the specialty retailer’s stock after purchasing an additional 4,047 shares during the quarter. Amalgamated Bank’s holdings in Genuine Parts were worth $6,026,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in GPC. Vanguard Group Inc. grew its holdings in Genuine Parts by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 17,088,101 shares of the specialty retailer’s stock worth $2,153,442,000 after acquiring an additional 481,039 shares during the last quarter. State Street Corp raised its position in Genuine Parts by 2.2% during the 2nd quarter. State Street Corp now owns 7,344,846 shares of the specialty retailer’s stock valued at $1,249,779,000 after purchasing an additional 155,203 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Genuine Parts by 4.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,860,574 shares of the specialty retailer’s stock valued at $612,531,000 after purchasing an additional 185,529 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Genuine Parts by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,032,717 shares of the specialty retailer’s stock worth $511,903,000 after buying an additional 55,046 shares during the period. Finally, Imprint Wealth LLC grew its position in shares of Genuine Parts by 16,507.5% in the 2nd quarter. Imprint Wealth LLC now owns 2,611,194 shares of the specialty retailer’s stock worth $261,119,000 after buying an additional 2,595,471 shares during the last quarter. 77.51% of the stock is owned by hedge funds and other institutional investors.
Genuine Parts Stock Performance
Shares of Genuine Parts stock opened at $141.35 on Wednesday. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $181.37. The firm’s 50-day moving average is $138.60 and its 200 day moving average is $143.13. The stock has a market cap of $19.82 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 1.53 and a beta of 0.94. 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 Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st were paid a $0.95 dividend. The ex-dividend date was Thursday, November 30th. This represents a $3.80 annualized dividend and a dividend yield of 2.69%. Genuine Parts’s dividend payout ratio is presently 42.99%.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. JPMorgan Chase & Co. raised their price target on Genuine Parts from $184.00 to $189.00 and gave the stock an “overweight” rating in a research note on Monday, October 16th. The Goldman Sachs Group cut their target price on shares of Genuine Parts from $178.00 to $152.00 and set a “neutral” rating on the stock in a research note on Friday, October 20th. Wedbush decreased their price target on shares of Genuine Parts from $160.00 to $140.00 and set a “neutral” rating for the company in a research note on Friday, October 20th. UBS Group began coverage on Genuine Parts in a research report on Thursday, October 12th. They set a “neutral” rating and a $160.00 price objective on the stock. Finally, Truist Financial lowered their target price on Genuine Parts from $172.00 to $155.00 and set a “buy” rating for the company in a research note 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. According to data from MarketBeat, Genuine Parts presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.11.
Check Out Our Latest Stock Analysis on Genuine Parts
Genuine Parts Company Profile
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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