GHP Investment Advisors Inc. Lowers Stock Position in Genuine Parts (NYSE:GPC)

GHP Investment Advisors Inc. lessened its stake in shares of Genuine Parts (NYSE:GPC - Free Report) by 8.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,597 shares of the specialty retailer's stock after selling 4,117 shares during the period. GHP Investment Advisors Inc.'s holdings in Genuine Parts were worth $5,557,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Financial Advocates Investment Management increased its position in Genuine Parts by 49.1% during the 4th quarter. Financial Advocates Investment Management now owns 6,095 shares of the specialty retailer's stock valued at $712,000 after purchasing an additional 2,006 shares during the period. State of Alaska Department of Revenue increased its holdings in Genuine Parts by 66.8% during the fourth quarter. State of Alaska Department of Revenue now owns 38,854 shares of the specialty retailer's stock valued at $4,536,000 after buying an additional 15,563 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Genuine Parts by 45.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,140 shares of the specialty retailer's stock worth $2,356,000 after buying an additional 6,326 shares in the last quarter. E. Ohman J or Asset Management AB lifted its holdings in Genuine Parts by 23.6% during the fourth quarter. E. Ohman J or Asset Management AB now owns 6,800 shares of the specialty retailer's stock worth $794,000 after buying an additional 1,300 shares during the period. Finally, Rockline Wealth Management LLC boosted its position in Genuine Parts by 8.1% during the 4th quarter. Rockline Wealth Management LLC now owns 26,455 shares of the specialty retailer's stock valued at $3,089,000 after acquiring an additional 1,976 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on GPC. StockNews.com lowered Genuine Parts from a "buy" rating to a "hold" rating in a research report on Wednesday, October 16th. Evercore ISI boosted their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an "in-line" rating in a report on Tuesday, October 22nd. The Goldman Sachs Group lowered their price target on shares of Genuine Parts from $162.00 to $138.00 and set a "neutral" rating on the stock in a report on Wednesday, October 23rd. Redburn Atlantic upgraded shares of Genuine Parts to a "hold" rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. lowered 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. Eight 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. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $141.50.

Insiders Place Their Bets

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the firm'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 transaction of $194,214.24. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.37% of the stock is currently owned by insiders.

Genuine Parts Stock Performance

Genuine Parts stock traded down $0.27 during mid-day trading on Friday, reaching $117.77. 1,440,932 shares of the company traded hands, compared to its average volume of 1,550,605. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The firm's fifty day moving average is $118.70 and its two-hundred day moving average is $128.47. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The company has a market capitalization of $16.37 billion, a price-to-earnings ratio of 15.16 and a beta of 0.94.

Genuine Parts Dividend Announcement

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

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.