Genuine Parts (NYSE:GPC) Shares Sold by Beacon Financial Group

Beacon Financial Group cut its holdings in Genuine Parts (NYSE:GPC) by 0.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 25,532 shares of the specialty retailer’s stock after selling 232 shares during the period. Beacon Financial Group’s holdings in Genuine Parts were worth $2,981,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling

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 transaction of $194,214.24. Following the completion of the sale, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.37% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

GPC has been the subject of several analyst reports. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. JPMorgan Chase & Co. decreased their target price on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Loop Capital initiated coverage on Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 price target on the stock. Wedbush decreased their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group cut their target price on 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 equities research 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. Based on data from MarketBeat.com, Genuine Parts has an average rating of “Hold” and a consensus price target of $141.50.

Genuine Parts Stock Performance

GPC opened at $121.75 on Wednesday. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a market capitalization of $16.93 billion, a price-to-earnings ratio of 15.67 and a beta of 0.94. The business has a 50 day moving average price of $118.41 and a two-hundred day moving average price of $128.07. 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 company 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 of this dividend was Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.29%. Genuine Parts’s dividend payout ratio is currently 51.48%.

About Genuine Parts

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.