Hartford Financial Management Inc. Has $2.19 Million Stock Holdings in Genuine Parts (NYSE:GPC)

Hartford Financial Management Inc. boosted its stake in shares of Genuine Parts (NYSE:GPC) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,715 shares of the specialty retailer’s stock after acquiring an additional 99 shares during the quarter. Hartford Financial Management Inc.’s holdings in Genuine Parts were worth $2,185,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in Genuine Parts during the 3rd quarter valued at about $26,000. Capital Performance Advisors LLP acquired a new stake in shares of Genuine Parts during the third quarter worth approximately $31,000. Synergy Asset Management LLC bought a new position in shares of Genuine Parts in the fourth quarter valued at approximately $32,000. Concord Wealth Partners boosted 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 worth $38,000 after acquiring an additional 119 shares in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new stake in Genuine Parts during the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Activity

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the transaction, the director now owns 11,357 shares in the company, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.37% of the stock is currently owned by company insiders.

Genuine Parts Price Performance

Shares of GPC stock opened at $118.12 on Friday. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The firm has a fifty day moving average of $119.88 and a 200-day moving average of $129.44. The firm has a market capitalization of $16.42 billion, a price-to-earnings ratio of 15.20 and a beta of 0.95.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders 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 3.39%. Genuine Parts’s dividend payout ratio (DPR) is currently 51.48%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on GPC shares. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. UBS Group reduced 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 report on Wednesday, October 23rd. Truist Financial lowered their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group decreased their price target on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $141.50.

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.