Genuine Parts Company $GPC Shares Sold by Jensen Investment Management Inc.

Jensen Investment Management Inc. reduced its position in Genuine Parts Company (NYSE:GPC) by 89.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,674 shares of the specialty retailer’s stock after selling 23,930 shares during the quarter. Jensen Investment Management Inc.’s holdings in Genuine Parts were worth $371,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Versor Investments LP acquired a new position in shares of Genuine Parts in the third quarter valued at approximately $263,000. Navellier & Associates Inc. lifted its holdings in Genuine Parts by 22.5% during the 3rd quarter. Navellier & Associates Inc. now owns 4,721 shares of the specialty retailer’s stock worth $654,000 after buying an additional 868 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in Genuine Parts by 2.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 11,460 shares of the specialty retailer’s stock valued at $1,588,000 after buying an additional 223 shares during the period. Linden Thomas Advisory Services LLC grew its stake in shares of Genuine Parts by 1.0% in the third quarter. Linden Thomas Advisory Services LLC now owns 14,705 shares of the specialty retailer’s stock worth $2,038,000 after acquiring an additional 151 shares in the last quarter. Finally, Quaker Wealth Management LLC increased its position in shares of Genuine Parts by 36.2% during the third quarter. Quaker Wealth Management LLC now owns 467 shares of the specialty retailer’s stock worth $65,000 after acquiring an additional 124 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Truist Financial lifted their target price on Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genuine Parts in a research note on Monday, December 29th. Evercore ISI reissued an “outperform” rating and set a $155.00 price objective on shares of Genuine Parts in a research report on Tuesday. JPMorgan Chase & Co. raised their target price on shares of Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Finally, UBS Group reiterated a “neutral” rating on shares of Genuine Parts in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $149.00.

Genuine Parts Trading Up 0.4%

GPC opened at $146.55 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 1.14. Genuine Parts Company has a one year low of $104.01 and a one year high of $149.27. The company has a market cap of $20.39 billion, a P/E ratio of 25.22 and a beta of 0.74. The business’s 50-day simple moving average is $132.30 and its 200-day simple moving average is $133.21.

Genuine Parts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Friday, December 5th were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $4.12 dividend on an annualized basis and a yield of 2.8%. Genuine Parts’s dividend payout ratio (DPR) is presently 70.91%.

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.