Wilmington Savings Fund Society FSB Sells 138 Shares of Genuine Parts (NYSE:GPC)

Wilmington Savings Fund Society FSB cut its position in Genuine Parts (NYSE:GPC) by 0.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 32,338 shares of the specialty retailer’s stock after selling 138 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Genuine Parts were worth $3,776,000 as of its most recent SEC filing.

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

Genuine Parts Stock Down 0.2 %

Shares of NYSE GPC opened at $117.77 on Friday. The company 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 simple moving average of $118.70 and a two-hundred day simple moving average of $128.41. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57.

Genuine Parts Dividend Announcement

The firm 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 51.48%.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the sale, the director now directly owns 11,357 shares in the company, 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 filing with the SEC, which can be accessed through the SEC website. 0.37% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GPC shares. 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 note on Wednesday, October 23rd. The Goldman Sachs Group reduced their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note 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. Redburn Atlantic upgraded shares of Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Eight equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $141.50.

About Genuine Parts

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.