Genuine Parts (NYSE:GPC) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC trimmed its position in Genuine Parts (NYSE:GPC) by 9.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,253 shares of the specialty retailer’s stock after selling 5,954 shares during the period. Manning & Napier Advisors LLC’s holdings in Genuine Parts were worth $7,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GPC. Invesco LLC raised its stake in shares of Genuine Parts by 2.3% in the fourth quarter. Invesco LLC now owns 16,189 shares of the specialty retailer’s stock worth $1,890,000 after purchasing an additional 366 shares during the last quarter. Forsta AP Fonden increased its holdings in Genuine Parts by 6.6% in the 4th quarter. Forsta AP Fonden now owns 33,900 shares of the specialty retailer’s stock worth $3,958,000 after buying an additional 2,100 shares during the period. Patriot Financial Group Insurance Agency LLC raised its position in Genuine Parts by 4.9% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 5,122 shares of the specialty retailer’s stock worth $598,000 after buying an additional 241 shares during the last quarter. Stonegate Investment Group LLC lifted its stake in Genuine Parts by 12.8% during the 4th quarter. Stonegate Investment Group LLC now owns 14,108 shares of the specialty retailer’s stock valued at $1,647,000 after acquiring an additional 1,604 shares during the period. Finally, Perigon Wealth Management LLC boosted its holdings in shares of Genuine Parts by 25.8% in the 4th quarter. Perigon Wealth Management LLC now owns 3,954 shares of the specialty retailer’s stock valued at $472,000 after acquiring an additional 811 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Down 0.7 %

Shares of NYSE GPC opened at $116.51 on Thursday. The company has a market capitalization of $16.20 billion, a P/E ratio of 14.99 and a beta of 0.95. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The company has a 50 day simple moving average of $119.97 and a 200-day simple moving average of $129.52. Genuine Parts has a 1 year low of $112.74 and a 1 year high of $164.45.

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 given a $1.00 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $4.00 dividend on an annualized basis and a yield of 3.43%. Genuine Parts’s dividend payout ratio is currently 51.48%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GPC. StockNews.com downgraded shares of Genuine Parts from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. Loop Capital initiated coverage on Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Wedbush reduced their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Finally, Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Eight 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $141.50.

Insider Transactions 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 value of $194,214.24. Following the transaction, the director now owns 11,357 shares of the company’s stock, valued at $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 SEC, which is available through this link. Company insiders own 0.37% of the company’s stock.

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.