Montag A & Associates Inc. Has $7.14 Million Position in Genuine Parts (NYSE:GPC)

Montag A & Associates Inc. cut its position in Genuine Parts (NYSE:GPC) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 60,591 shares of the specialty retailer’s stock after selling 1,171 shares during the period. Montag A & Associates Inc.’s holdings in Genuine Parts were worth $7,136,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Metis Global Partners LLC increased its position in shares of Genuine Parts by 1.9% in the 3rd quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock valued at $625,000 after buying an additional 85 shares in the last quarter. Guardian Wealth Advisors LLC increased its holdings in shares of Genuine Parts by 2.7% in the third quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock worth $484,000 after acquiring an additional 91 shares in the last quarter. Marco Investment Management LLC raised its position in shares of Genuine Parts by 1.2% during the third quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock worth $1,104,000 after purchasing an additional 91 shares during the period. First Citizens Bank & Trust Co. lifted its holdings in shares of Genuine Parts by 5.9% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 1,711 shares of the specialty retailer’s stock valued at $239,000 after purchasing an additional 95 shares in the last quarter. Finally, Hartford Financial Management Inc. increased its stake in Genuine Parts by 0.5% during the 4th quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer’s stock worth $2,185,000 after purchasing an additional 99 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GPC has been the topic of a number of research reports. UBS Group cut their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Wedbush reduced their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. cut their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Finally, Loop Capital initiated coverage on Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $141.50.

Insider Activity

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction 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 sale, the director now directly owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.37% of the stock is currently owned by insiders.

Genuine Parts Price Performance

NYSE:GPC opened at $124.87 on Friday. The stock’s 50-day simple moving average is $118.36 and its 200 day simple moving average is $127.75. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. The company has a market cap of $17.36 billion, a P/E ratio of 16.07 and a beta of 0.94.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date was Friday, December 6th. 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.