Genuine Parts (NYSE:GPC) Shares Sold by Harbour Trust & Investment Management Co

Harbour Trust & Investment Management Co lowered its stake in shares of Genuine Parts (NYSE:GPC) by 47.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,263 shares of the specialty retailer’s stock after selling 4,760 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Genuine Parts were worth $615,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in GPC. Quantinno Capital Management LP raised its stake in shares of Genuine Parts by 74.0% in the 3rd quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock valued at $1,580,000 after purchasing an additional 4,809 shares in the last quarter. Caprock Group LLC bought a new position in Genuine Parts during the 4th quarter worth approximately $540,000. Miramar Capital LLC grew its position in shares of Genuine Parts by 9.8% in the 3rd quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock worth $12,264,000 after acquiring an additional 7,845 shares in the last quarter. Verity & Verity LLC raised its position in shares of Genuine Parts by 9.7% during the 4th quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock valued at $12,198,000 after acquiring an additional 9,199 shares in the last quarter. Finally, Conning Inc. boosted its holdings in Genuine Parts by 8.2% in the third quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock worth $36,499,000 after purchasing an additional 19,795 shares during the period. Institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Loop Capital began coverage on shares of Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 target price on the stock. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. 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 report on Tuesday, October 22nd. Wedbush lowered their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Finally, StockNews.com cut Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Eight equities 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’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $141.50.

Insider Buying and Selling at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts stock in a transaction on Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the transaction, the director now directly owns 11,357 shares in the company, valued at $1,371,698.46. The trade was a 12.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.37% of the stock is owned by corporate insiders.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $117.77 on Monday. The firm has a 50-day moving average of $118.70 and a two-hundred day moving average of $128.35. The company has a market capitalization of $16.37 billion, a price-to-earnings ratio of 15.16 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. Genuine Parts has a twelve month low of $112.74 and a twelve month high of $164.45.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were given a $1.00 dividend. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.40%. Genuine Parts’s dividend payout ratio (DPR) 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.