Genuine Parts (NYSE:GPC) Shares Sold by Beach Investment Counsel Inc. PA

Beach Investment Counsel Inc. PA reduced its holdings in Genuine Parts (NYSE:GPC) by 11.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,780 shares of the specialty retailer’s stock after selling 350 shares during the quarter. Beach Investment Counsel Inc. PA’s holdings in Genuine Parts were worth $325,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in Genuine Parts in the third quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new position in shares of Genuine Parts during the third quarter valued at $31,000. Concord Wealth Partners lifted its position in Genuine Parts by 79.3% in the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 119 shares during the last quarter. Synergy Asset Management LLC bought a new position in Genuine Parts in the 4th quarter worth about $32,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Genuine Parts during the third quarter valued at approximately $44,000. 78.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on GPC shares. JPMorgan Chase & Co. lowered their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Evercore ISI lifted their price objective 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. Loop Capital initiated 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. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Northcoast Research cut shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Eight analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $141.50.

Genuine Parts Stock Performance

GPC opened at $116.58 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The firm has a market cap of $16.21 billion, a PE ratio of 15.01 and a beta of 0.94. The business has a fifty day simple moving average of $119.44 and a 200-day simple moving average of $128.90. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.43%. Genuine Parts’s payout ratio is presently 51.48%.

Insider Buying and Selling at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

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.