Stratos Wealth Partners LTD. Lowers Stake in Genuine Parts (NYSE:GPC)

Stratos Wealth Partners LTD. cut its position in shares of Genuine Parts (NYSE:GPC) by 3.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,646 shares of the specialty retailer’s stock after selling 92 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Genuine Parts were worth $309,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GPC. Metis Global Partners LLC grew its position in shares of Genuine Parts by 1.9% during the third quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock worth $625,000 after acquiring an additional 85 shares during the last quarter. Guardian Wealth Advisors LLC grew its position in shares of Genuine Parts by 2.7% during the third quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock worth $484,000 after acquiring an additional 91 shares during the last quarter. Marco Investment Management LLC grew its position in shares of Genuine Parts by 1.2% during the third quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock worth $1,104,000 after acquiring an additional 91 shares during the last quarter. First Citizens Bank & Trust Co. grew its position in shares of Genuine Parts by 5.9% during the third quarter. First Citizens Bank & Trust Co. now owns 1,711 shares of the specialty retailer’s stock worth $239,000 after acquiring an additional 95 shares during the last quarter. Finally, Hartford Financial Management Inc. grew its position in shares of Genuine Parts by 0.5% during the fourth quarter. Hartford Financial Management Inc. now owns 18,715 shares of the specialty retailer’s stock worth $2,185,000 after acquiring an additional 99 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $122.13 on Thursday. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45. 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 company has a market capitalization of $16.98 billion, a price-to-earnings ratio of 15.72 and a beta of 0.94. The firm has a 50-day moving average of $118.33 and a two-hundred day moving average of $128.03.

Genuine Parts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s payout ratio is 51.48%.

Insider Buying and Selling at Genuine Parts

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

Analysts Set New Price Targets

Several equities analysts have recently commented on GPC shares. Truist Financial lowered their price target on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Loop Capital began coverage on shares of Genuine Parts in a research report on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price for the company. Wedbush decreased their target price on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Evercore ISI increased their target price on shares of 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, Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research report on Monday, November 11th. Eight research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Genuine Parts currently has a consensus rating of “Hold” and an average target price 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.