First Affirmative Financial Network Has $242,000 Stock Position in Genuine Parts (NYSE:GPC)

First Affirmative Financial Network lessened its stake in Genuine Parts (NYSE:GPC) by 4.1% in the fourth quarter, Holdings Channel reports. The firm owned 2,069 shares of the specialty retailer’s stock after selling 88 shares during the quarter. First Affirmative Financial Network’s holdings in Genuine Parts were worth $242,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GPC. Ashton Thomas Securities LLC bought a new position in shares of Genuine Parts in the 3rd quarter valued at $26,000. Capital Performance Advisors LLP bought a new position in Genuine Parts in the third quarter valued at about $31,000. Synergy Asset Management LLC bought a new position in Genuine Parts in the fourth quarter valued at about $32,000. Concord Wealth Partners lifted its holdings 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 acquiring an additional 119 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Genuine Parts in the 3rd quarter valued at approximately $44,000. Institutional investors own 78.83% of the company’s stock.

Insider Buying and Selling

In other 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 completion of the sale, the director now owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.37% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GPC has been the subject of several research analyst reports. Loop Capital assumed coverage on shares of Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 price target for the company. JPMorgan Chase & Co. dropped their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Wedbush reduced their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. The Goldman Sachs Group dropped their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Finally, StockNews.com cut 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $141.50.

Genuine Parts Stock Performance

NYSE:GPC opened at $118.12 on Friday. Genuine Parts has a twelve month low of $112.74 and a twelve month 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 stock has a market cap of $16.42 billion, a P/E ratio of 15.20 and a beta of 0.95. The business’s 50-day moving average price is $119.88 and its two-hundred day moving average price is $129.44.

Genuine Parts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Friday, December 6th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.39%. Genuine Parts’s dividend payout ratio is 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.