Genuine Parts (NYSE:GPC) Shares Purchased by Financial Advocates Investment Management

Financial Advocates Investment Management raised its position in Genuine Parts (NYSE:GPC) by 49.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,095 shares of the specialty retailer’s stock after acquiring an additional 2,006 shares during the quarter. Financial Advocates Investment Management’s holdings in Genuine Parts were worth $712,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in shares of Genuine Parts during the third quarter worth $26,000. Capital Performance Advisors LLP acquired a new position in shares of Genuine Parts during the 3rd quarter worth about $31,000. Concord Wealth Partners increased its holdings 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. Synergy Asset Management LLC acquired a new stake in shares of Genuine Parts during the 4th quarter worth about $32,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in Genuine Parts during the third quarter worth approximately $44,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GPC. JPMorgan Chase & Co. cut their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Evercore ISI upped 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. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Finally, UBS Group decreased their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $141.50.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.37% of the company’s stock.

Genuine Parts Stock Down 0.2 %

Shares of NYSE:GPC opened at $117.77 on Friday. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. 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’s 50-day simple moving average is $118.70 and its 200-day simple moving average is $128.47. The company has a market cap of $16.37 billion, a price-to-earnings ratio of 15.16 and a beta of 0.94.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were issued a $1.00 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.40%. 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.