Exchange Traded Concepts LLC Sells 483 Shares of Genuine Parts (NYSE:GPC)

Exchange Traded Concepts LLC lowered its stake in Genuine Parts (NYSE:GPC) by 24.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,516 shares of the specialty retailer’s stock after selling 483 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Genuine Parts were worth $177,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GPC. Ashton Thomas Securities LLC bought a new position in Genuine Parts in the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP acquired a new position in shares of Genuine Parts during the third quarter worth $31,000. Concord Wealth Partners lifted its stake in shares of 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 acquiring an additional 119 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new stake in shares of Genuine Parts during the 3rd quarter valued at $44,000. Finally, First Financial Corp IN bought a new stake in Genuine Parts during the 4th quarter worth $44,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Performance

Shares of GPC opened at $116.13 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The firm’s fifty day simple moving average is $119.71 and its two-hundred day simple moving average is $129.18. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. The stock has a market capitalization of $16.15 billion, a P/E ratio of 14.95 and a beta of 0.95.

Genuine Parts Dividend Announcement

The firm also recently announced 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 payout ratio is 51.48%.

Analyst Upgrades and Downgrades

Several research firms have commented on GPC. UBS Group cut their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Wedbush decreased their price target on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Loop Capital started coverage on shares of Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 price target on the stock. Finally, The Goldman Sachs Group reduced their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Eight 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 company’s stock. According to MarketBeat.com, Genuine Parts currently has an average rating of “Hold” and a consensus target price of $141.50.

Insider Buying and Selling

In other 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 transaction of $194,214.24. Following the completion of the sale, the director now owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 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.