United Asset Strategies Inc. Sells 355 Shares of Genuine Parts (NYSE:GPC)

United Asset Strategies Inc. decreased its position in Genuine Parts (NYSE:GPC) by 7.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,304 shares of the specialty retailer’s stock after selling 355 shares during the quarter. United Asset Strategies Inc.’s holdings in Genuine Parts were worth $502,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quantinno Capital Management LP lifted 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 worth $1,580,000 after purchasing an additional 4,809 shares during the period. Miramar Capital LLC raised its position in Genuine Parts by 9.8% in the third 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 during the period. Verity & Verity LLC boosted its stake 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 worth $12,198,000 after acquiring an additional 9,199 shares during the last quarter. Conning Inc. grew its position in shares of Genuine Parts by 8.2% during the 3rd quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock valued at $36,499,000 after acquiring an additional 19,795 shares during the period. Finally, WD Rutherford LLC increased its stake in shares of Genuine Parts by 4,265.9% in the 3rd quarter. WD Rutherford LLC now owns 7,422 shares of the specialty retailer’s stock worth $1,037,000 after purchasing an additional 7,252 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GPC has been the subject of several recent research reports. Redburn Atlantic raised Genuine Parts to a “hold” rating in a report on Monday, November 11th. Wedbush cut 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. Loop Capital started coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They set a “buy” rating and a $155.00 target price on the stock. UBS Group dropped their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Finally, Evercore ISI raised their price objective 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. Eight equities research 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $141.50.

Genuine Parts Stock Up 2.5 %

GPC opened at $120.14 on Tuesday. The company has a market capitalization of $16.70 billion, a PE ratio of 15.46 and a beta of 0.95. The firm has a 50-day simple moving average of $120.13 and a two-hundred day simple moving average of $129.76. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts Dividend Announcement

The company also recently declared 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 3.33%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s dividend payout ratio is presently 51.48%.

Insiders Place Their Bets

In related news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts 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 transaction, the director now 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 legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

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.