Harbour Trust & Investment Management Co Reduces Stake in Genuine Parts (NYSE:GPC)

Harbour Trust & Investment Management Co trimmed its position in shares of Genuine Parts (NYSE:GPC) by 47.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,263 shares of the specialty retailer’s stock after selling 4,760 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Genuine Parts were worth $615,000 at the end of the most recent reporting period.

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

Genuine Parts Trading Down 0.2 %

GPC stock opened at $117.77 on Monday. 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 company has a market cap of $16.37 billion, a price-to-earnings ratio of 15.16 and a beta of 0.94. The business has a fifty day simple moving average of $118.70 and a 200-day simple moving average of $128.35. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Insider Activity at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were 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 of the company’s stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.37% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GPC. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Wedbush cut 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. Loop Capital started coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price target on the stock. Evercore ISI boosted 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 report on Tuesday, October 22nd. Finally, StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Eight 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 company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $141.50.

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.