Mezzasalma Advisors LLC Sells 2,781 Shares of Genuine Parts (NYSE:GPC)

Mezzasalma Advisors LLC trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 18.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,984 shares of the specialty retailer’s stock after selling 2,781 shares during the quarter. Mezzasalma Advisors LLC’s holdings in Genuine Parts were worth $1,399,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in shares of Genuine Parts during the third quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new stake in Genuine Parts during the third quarter worth approximately $31,000. Synergy Asset Management LLC acquired a new position in Genuine Parts in the 4th quarter valued at $32,000. Concord Wealth Partners lifted its position in shares of Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 119 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Genuine Parts during the 3rd quarter worth $44,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Trading Down 0.2 %

Shares of NYSE GPC opened at $117.77 on Friday. The stock has a market cap of $16.37 billion, a P/E ratio of 15.16 and a beta of 0.94. The firm has a 50 day moving average price of $118.70 and a two-hundred day moving average price of $128.47. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.17. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45.

Genuine Parts Announces Dividend

The business also recently announced 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 was Friday, December 6th. Genuine Parts’s payout ratio is presently 51.48%.

Insider Activity

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the transaction, the director now directly 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GPC shares. The Goldman Sachs Group cut their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Truist Financial reduced their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Redburn Atlantic raised Genuine Parts to a “hold” rating in a report on Monday, November 11th. Finally, StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. 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 presently has an average rating of “Hold” and a consensus 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.