Shell Asset Management Co. Has $1.23 Million Stock Position in Genuine Parts Company $GPC

Shell Asset Management Co. lowered its stake in shares of Genuine Parts Company (NYSE:GPC) by 35.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,844 shares of the specialty retailer’s stock after selling 4,920 shares during the quarter. Shell Asset Management Co.’s holdings in Genuine Parts were worth $1,226,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. HighTower Advisors LLC raised its position in Genuine Parts by 2.9% in the 3rd quarter. HighTower Advisors LLC now owns 127,918 shares of the specialty retailer’s stock worth $17,730,000 after purchasing an additional 3,560 shares during the last quarter. Aberdeen Group plc increased its stake in shares of Genuine Parts by 0.3% in the 3rd quarter. Aberdeen Group plc now owns 86,082 shares of the specialty retailer’s stock valued at $11,984,000 after buying an additional 279 shares during the period. DDD Partners LLC acquired a new stake in shares of Genuine Parts in the 3rd quarter valued at $18,926,000. Assetmark Inc. boosted its holdings in Genuine Parts by 33.0% in the third quarter. Assetmark Inc. now owns 65,158 shares of the specialty retailer’s stock valued at $9,031,000 after acquiring an additional 16,156 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in Genuine Parts by 15.5% in the third quarter. Public Sector Pension Investment Board now owns 12,082 shares of the specialty retailer’s stock valued at $1,675,000 after acquiring an additional 1,621 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Truist Financial increased their price target on Genuine Parts from $146.00 to $162.00 and gave the company a “buy” rating in a research note on Thursday. Evercore ISI set a $175.00 price objective on Genuine Parts in a research note on Wednesday. The Goldman Sachs Group raised Genuine Parts from a “sell” rating to a “neutral” rating and increased their target price for the company from $130.00 to $142.00 in a research note on Thursday, November 13th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Genuine Parts in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $154.14.

Genuine Parts Trading Down 0.2%

NYSE GPC opened at $147.37 on Monday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.14 and a quick ratio of 0.51. Genuine Parts Company has a one year low of $104.01 and a one year high of $151.57. The stock’s 50-day moving average is $133.37 and its 200-day moving average is $133.53. The firm has a market cap of $20.50 billion, a P/E ratio of 25.36 and a beta of 0.74.

Genuine Parts Company Profile

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.