CarsonAllaria Wealth Management Ltd. Sells 135 Shares of Genuine Parts (NYSE:GPC)

CarsonAllaria Wealth Management Ltd. lessened its position in shares of Genuine Parts (NYSE:GPC) by 15.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 745 shares of the specialty retailer’s stock after selling 135 shares during the period. CarsonAllaria Wealth Management Ltd.’s holdings in Genuine Parts were worth $87,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC boosted its position in shares of Genuine Parts by 14,222.1% during the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after purchasing an additional 580,262 shares in the last quarter. State Street Corp grew its holdings in Genuine Parts by 5.4% in the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock worth $1,103,300,000 after purchasing an additional 401,180 shares during the period. Boston Trust Walden Corp acquired a new position in shares of Genuine Parts during the third quarter valued at about $39,474,000. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Genuine Parts by 1,038.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer’s stock valued at $38,803,000 after buying an additional 253,400 shares during the period. Finally, Synovus Financial Corp increased its position in Genuine Parts by 95.4% in the 3rd quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer’s stock valued at $54,708,000 after buying an additional 191,272 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Performance

NYSE GPC opened at $117.56 on Wednesday. The company has a market capitalization of $16.35 billion, a PE ratio of 15.13 and a beta of 0.94. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The company has a 50-day simple moving average of $119.23 and a 200 day simple moving average of $128.76.

Genuine Parts Announces Dividend

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

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 11,357 shares of the company’s stock, valued at $1,371,698.46. The trade was a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.37% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on GPC shares. Wedbush reduced their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. UBS Group lowered their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. The Goldman Sachs Group reduced 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. JPMorgan Chase & Co. cut their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Finally, Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Eight equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Genuine Parts presently has an average rating of “Hold” and a consensus target price of $141.50.

Genuine Parts Company 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.