Fifth Third Bancorp Has $1.75 Million Stake in Genuine Parts (NYSE:GPC)

Fifth Third Bancorp reduced its holdings in Genuine Parts (NYSE:GPC) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,945 shares of the specialty retailer’s stock after selling 1,236 shares during the quarter. Fifth Third Bancorp’s holdings in Genuine Parts were worth $1,745,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in GPC. International Assets Investment Management LLC increased its position in Genuine Parts by 14,222.1% during the third quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock worth $81,621,000 after acquiring an additional 580,262 shares during the period. State Street Corp increased its holdings in shares of Genuine Parts by 5.4% during the 3rd quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock worth $1,103,300,000 after purchasing an additional 401,180 shares during the period. Boston Trust Walden Corp acquired a new position in shares of Genuine Parts during the third quarter valued at about $39,474,000. Caisse DE Depot ET Placement DU Quebec grew its position in Genuine Parts by 1,038.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer’s stock worth $38,803,000 after buying an additional 253,400 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in Genuine Parts by 557.9% during the third quarter. SG Americas Securities LLC now owns 262,645 shares of the specialty retailer’s stock valued at $36,686,000 after acquiring an additional 222,723 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Down 2.2 %

NYSE GPC opened at $117.52 on Wednesday. The stock’s 50 day simple moving average is $120.06 and its 200 day simple moving average is $129.61. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The firm has a market cap of $16.34 billion, a PE ratio of 15.12 and a beta of 0.95. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were paid a $1.00 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.40%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Analyst Ratings Changes

GPC has been the topic of several recent research reports. The Goldman Sachs Group decreased their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. UBS Group lowered their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Finally, Truist Financial decreased their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Genuine Parts currently has a consensus rating of “Hold” and a consensus price target of $141.50.

Insider Activity at Genuine Parts

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 shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the transaction, the director now directly owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.37% of the stock is currently owned by company insiders.

Genuine Parts Profile

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.