Beacon Financial Group Lowers Stake in Genuine Parts (NYSE:GPC)

Beacon Financial Group cut its position in shares of Genuine Parts (NYSE:GPC) by 0.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,532 shares of the specialty retailer’s stock after selling 232 shares during the quarter. Beacon Financial Group’s holdings in Genuine Parts were worth $2,981,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of GPC. Exchange Traded Concepts LLC raised its holdings in Genuine Parts by 284.4% in the third quarter. Exchange Traded Concepts LLC now owns 1,999 shares of the specialty retailer’s stock valued at $279,000 after buying an additional 1,479 shares during the period. Koshinski Asset Management Inc. purchased a new position in shares of Genuine Parts in the 3rd quarter valued at $202,000. Armstrong Advisory Group Inc. raised its stake in shares of Genuine Parts by 63.8% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 362 shares of the specialty retailer’s stock valued at $51,000 after acquiring an additional 141 shares during the period. Novare Capital Management LLC boosted its position in Genuine Parts by 29.0% during the 3rd quarter. Novare Capital Management LLC now owns 3,063 shares of the specialty retailer’s stock worth $428,000 after purchasing an additional 688 shares during the period. Finally, CX Institutional increased its holdings in Genuine Parts by 5.2% in the 3rd quarter. CX Institutional now owns 3,554 shares of the specialty retailer’s stock valued at $496,000 after purchasing an additional 177 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Loop Capital started coverage on Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective on the stock. Evercore ISI upped their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. decreased their target price on shares of 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, UBS Group dropped 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. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $141.50.

Genuine Parts Stock Up 2.8 %

Shares of NYSE:GPC opened at $121.75 on Wednesday. The firm has a market cap of $16.93 billion, a PE ratio of 15.67 and a beta of 0.94. The company has a fifty day simple moving average of $118.41 and a 200 day simple moving average of $128.07. The company has a current ratio of 1.17, a quick ratio of 0.57 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.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th were paid 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 3.29%. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Insider Transactions at Genuine Parts

In related 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 directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.37% of the company’s stock.

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.