Patriot Financial Group Insurance Agency LLC Purchases 241 Shares of Genuine Parts (NYSE:GPC)

Patriot Financial Group Insurance Agency LLC lifted its position in shares of Genuine Parts (NYSE:GPC) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,122 shares of the specialty retailer’s stock after acquiring an additional 241 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Genuine Parts were worth $598,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in GPC. International Assets Investment Management LLC increased its holdings in shares of Genuine Parts by 14,222.1% in the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock worth $81,621,000 after purchasing an additional 580,262 shares in the last quarter. State Street Corp boosted its position in shares of Genuine Parts by 5.4% during the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer’s stock valued at $1,103,300,000 after buying an additional 401,180 shares during the last quarter. Boston Trust Walden Corp bought a new stake in Genuine Parts in the 3rd quarter worth about $39,474,000. Caisse DE Depot ET Placement DU Quebec raised its position in 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 worth $38,803,000 after buying an additional 253,400 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in Genuine Parts by 557.9% during the 3rd quarter. SG Americas Securities LLC now owns 262,645 shares of the specialty retailer’s stock valued at $36,686,000 after acquiring an additional 222,723 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 11,357 shares in the company, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.37% of the company’s stock.

Genuine Parts Stock Down 2.2 %

NYSE GPC opened at $117.52 on Wednesday. Genuine Parts has a 52 week low of $112.74 and a 52 week 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 company has a market capitalization of $16.34 billion, a P/E ratio of 15.12 and a beta of 0.95. The stock’s 50-day moving average price is $120.06 and its 200-day moving average price is $129.61.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s dividend payout ratio is currently 51.48%.

Analysts Set New Price Targets

GPC has been the subject of a number of research analyst reports. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. 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. dropped their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Evercore ISI upped their price objective on Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a research report on Tuesday, October 22nd. Finally, UBS Group dropped their target price on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. 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. According to data from MarketBeat, Genuine Parts has a consensus rating of “Hold” and an average price target of $141.50.

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.