Bleakley Financial Group LLC Has $434,000 Position in Genuine Parts (NYSE:GPC)

Bleakley Financial Group LLC lessened its position in Genuine Parts (NYSE:GPC) by 19.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,719 shares of the specialty retailer’s stock after selling 875 shares during the quarter. Bleakley Financial Group LLC’s holdings in Genuine Parts were worth $434,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research note on Monday, November 11th. UBS Group decreased their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. The Goldman Sachs Group decreased their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Evercore ISI increased their price target on 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, Loop Capital assumed coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $141.50.

Genuine Parts Trading Up 0.5 %

NYSE GPC opened at $118.35 on Tuesday. The business has a 50 day simple moving average of $118.52 and a 200 day simple moving average of $128.22. Genuine Parts has a one year low of $112.74 and a one year high of $164.45. The stock has a market capitalization of $16.46 billion, a P/E ratio of 15.23 and a beta of 0.94. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57.

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 paid a dividend of $1.00 per share. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.38%. Genuine Parts’s dividend payout ratio is currently 51.48%.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction that occurred 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 transaction, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

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.