OLD National Bancorp IN Has $615,000 Holdings in Genuine Parts (NYSE:GPC)

OLD National Bancorp IN trimmed its holdings in Genuine Parts (NYSE:GPC) by 25.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,270 shares of the specialty retailer’s stock after selling 1,814 shares during the period. OLD National Bancorp IN’s holdings in Genuine Parts were worth $615,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Synergy Asset Management LLC bought a new position in Genuine Parts during the fourth quarter worth $32,000. Invesco LLC boosted its holdings in shares of Genuine Parts by 2.3% during the 4th quarter. Invesco LLC now owns 16,189 shares of the specialty retailer’s stock worth $1,890,000 after buying an additional 366 shares during the period. Forsta AP Fonden grew its stake in Genuine Parts by 6.6% in the 4th quarter. Forsta AP Fonden now owns 33,900 shares of the specialty retailer’s stock valued at $3,958,000 after buying an additional 2,100 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in Genuine Parts by 4.9% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 5,122 shares of the specialty retailer’s stock valued at $598,000 after acquiring an additional 241 shares during the period. Finally, Stonegate Investment Group LLC lifted its position in Genuine Parts by 12.8% during the fourth quarter. Stonegate Investment Group LLC now owns 14,108 shares of the specialty retailer’s stock worth $1,647,000 after acquiring an additional 1,604 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GPC shares. UBS Group decreased their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Truist Financial lowered their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Loop Capital assumed coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price for the company. Evercore ISI upped their price target on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group dropped their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and an average target price of $141.50.

Genuine Parts Trading Down 1.7 %

Shares of Genuine Parts stock opened at $116.13 on Friday. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The company has a market capitalization of $16.15 billion, a price-to-earnings ratio of 14.95 and a beta of 0.95. The firm’s 50-day moving average price is $119.71 and its two-hundred day moving average price is $129.27.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were given a dividend of $1.00 per share. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.44%. Genuine Parts’s dividend payout ratio is 51.48%.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the firm’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 owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.37% of the stock is currently owned by 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.