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

CarsonAllaria Wealth Management Ltd. lessened its holdings in Genuine Parts (NYSE:GPC) by 15.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. E. Ohman J or Asset Management AB raised its holdings in Genuine Parts by 23.6% in the 4th quarter. E. Ohman J or Asset Management AB now owns 6,800 shares of the specialty retailer’s stock valued at $794,000 after acquiring an additional 1,300 shares during the period. Rockline Wealth Management LLC increased its stake in shares of Genuine Parts by 8.1% during the fourth quarter. Rockline Wealth Management LLC now owns 26,455 shares of the specialty retailer’s stock worth $3,089,000 after purchasing an additional 1,976 shares during the period. Boston Trust Walden Corp lifted its holdings in Genuine Parts by 27.3% during the 4th quarter. Boston Trust Walden Corp now owns 359,823 shares of the specialty retailer’s stock worth $42,013,000 after purchasing an additional 77,221 shares during the last quarter. Lederer & Associates Investment Counsel CA acquired a new position in Genuine Parts in the 4th quarter valued at $553,000. Finally, Golden State Equity Partners increased its position in Genuine Parts by 13.7% during the 4th quarter. Golden State Equity Partners now owns 4,508 shares of the specialty retailer’s stock worth $526,000 after buying an additional 544 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Insider Activity 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 completion of the transaction, the director now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.37% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. 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 research report on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. UBS Group dropped their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Evercore ISI upped their price objective on shares of Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 22nd. Eight equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $141.50.

Genuine Parts Trading Up 1.4 %

Shares of Genuine Parts stock opened at $117.56 on Wednesday. The firm has a market capitalization of $16.35 billion, a PE ratio of 15.13 and a beta of 0.94. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The firm’s 50 day moving average is $119.23 and its 200 day moving average is $128.76. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45.

Genuine Parts Announces Dividend

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

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.