Genuine Parts (NYSE:GPC) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System decreased its position in shares of Genuine Parts (NYSE:GPC) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,500 shares of the specialty retailer’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Genuine Parts were worth $876,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Quantinno Capital Management LP increased its position in Genuine Parts by 74.0% during the third quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock worth $1,580,000 after buying an additional 4,809 shares during the period. Caprock Group LLC acquired a new position in shares of Genuine Parts in the fourth quarter valued at approximately $540,000. Miramar Capital LLC increased its holdings in shares of Genuine Parts by 9.8% in the third quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock valued at $12,264,000 after purchasing an additional 7,845 shares during the period. Verity & Verity LLC increased its holdings in shares of Genuine Parts by 9.7% in the fourth quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock valued at $12,198,000 after purchasing an additional 9,199 shares during the period. Finally, Conning Inc. increased its holdings in shares of Genuine Parts by 8.2% in the third quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock valued at $36,499,000 after purchasing an additional 19,795 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on GPC shares. Truist Financial dropped their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. UBS Group dropped their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Loop Capital started coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target on the stock. Finally, Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research note on Monday, November 11th. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $141.50.

Insider Activity

In other news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now directly owns 11,357 shares in the company, valued at $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.37% of the company’s stock.

Genuine Parts Stock Up 0.2 %

GPC opened at $124.87 on Tuesday. The business’s fifty day moving average is $118.34 and its two-hundred day moving average is $127.48. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The company has a market cap of $17.36 billion, a price-to-earnings ratio of 16.07 and a beta of 0.94. Genuine Parts has a one year low of $112.74 and a one year high of $164.45.

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.