Nisa Investment Advisors LLC Sells 1,157 Shares of Genuine Parts (NYSE:GPC)

Nisa Investment Advisors LLC decreased its position in Genuine Parts (NYSE:GPC) by 5.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 22,065 shares of the specialty retailer’s stock after selling 1,157 shares during the period. Nisa Investment Advisors LLC’s holdings in Genuine Parts were worth $2,598,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of GPC. Public Sector Pension Investment Board lifted its stake in Genuine Parts by 66.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 5,268 shares of the specialty retailer’s stock valued at $729,000 after acquiring an additional 2,095 shares in the last quarter. MBB Public Markets I LLC bought a new stake in shares of Genuine Parts during the 2nd quarter worth approximately $1,236,000. Maverick Capital Ltd. bought a new stake in shares of Genuine Parts during the 2nd quarter worth approximately $787,000. Creative Planning raised its stake in shares of Genuine Parts by 0.5% during the 2nd quarter. Creative Planning now owns 57,077 shares of the specialty retailer’s stock worth $7,895,000 after purchasing an additional 280 shares in the last quarter. Finally, Silver Lake Advisory LLC raised its stake in shares of Genuine Parts by 3.9% during the 2nd quarter. Silver Lake Advisory LLC now owns 32,796 shares of the specialty retailer’s stock worth $4,536,000 after purchasing an additional 1,226 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GPC. Truist Financial dropped their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. The Goldman Sachs Group dropped their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Loop Capital assumed coverage on Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective on the stock. Redburn Atlantic raised Genuine Parts to a “hold” rating in a report on Monday, November 11th. Finally, StockNews.com lowered Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $141.50.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the sale, the director now directly owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.37% of the company’s stock.

Genuine Parts Stock Performance

Shares of NYSE GPC opened at $117.19 on Monday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The stock’s fifty day moving average price is $120.21 and its two-hundred day moving average price is $129.87. 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 $16.29 billion, a price-to-earnings ratio of 15.08 and a beta of 0.95.

Genuine Parts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date was Friday, December 6th. Genuine Parts’s dividend payout ratio is 51.48%.

Genuine Parts Company 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.