Genuine Parts (NYSE:GPC) Shares Sold by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC lessened its holdings in shares of Genuine Parts (NYSE:GPC) by 17.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,899 shares of the specialty retailer’s stock after selling 1,002 shares during the period. Foundations Investment Advisors LLC’s holdings in Genuine Parts were worth $572,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in shares of Genuine Parts during the 3rd quarter valued at $26,000. Capital Performance Advisors LLP purchased a new stake in Genuine Parts during the third quarter valued at about $31,000. Concord Wealth Partners lifted its position in shares of Genuine Parts by 79.3% in the third 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. Catalyst Capital Advisors LLC purchased a new position in Genuine Parts in the third quarter valued at about $44,000. Finally, First Financial Corp IN acquired a new stake in shares of Genuine Parts in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Transactions at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the sale, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.37% of the company’s stock.

Genuine Parts Stock Up 1.5 %

GPC opened at $118.12 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The firm has a market capitalization of $16.42 billion, a P/E ratio of 15.20 and a beta of 0.95. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The company’s 50-day moving average is $119.88 and its 200 day moving average is $129.44.

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s dividend payout ratio is presently 51.48%.

Analyst Ratings Changes

Several brokerages have recently commented on GPC. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Truist Financial cut their target price on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Loop Capital started coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target on the stock. Evercore ISI increased their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd. Finally, Wedbush dropped their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $141.50.

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.