Genuine Parts Company $GPC Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. trimmed its holdings in shares of Genuine Parts Company (NYSE:GPC) by 18.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,019 shares of the specialty retailer’s stock after selling 11,264 shares during the period. Advisors Asset Management Inc.’s holdings in Genuine Parts were worth $6,794,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GPC. Envestnet Asset Management Inc. boosted its position in shares of Genuine Parts by 4.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 549,830 shares of the specialty retailer’s stock valued at $76,206,000 after purchasing an additional 21,820 shares in the last quarter. Synergy Asset Management LLC boosted its stake in Genuine Parts by 272.7% during the 3rd quarter. Synergy Asset Management LLC now owns 108,028 shares of the specialty retailer’s stock valued at $14,706,000 after purchasing an additional 79,044 shares during the last quarter. Caldwell Trust Co bought a new stake in Genuine Parts during the 2nd quarter worth approximately $3,323,000. Prudential Financial Inc. raised its stake in shares of Genuine Parts by 5.8% in the second quarter. Prudential Financial Inc. now owns 79,557 shares of the specialty retailer’s stock worth $9,651,000 after purchasing an additional 4,374 shares during the last quarter. Finally, Independent Advisor Alliance boosted its holdings in Genuine Parts by 17.7% during the third quarter. Independent Advisor Alliance now owns 34,368 shares of the specialty retailer’s stock worth $4,763,000 after purchasing an additional 5,165 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Trading Down 1.5%

Shares of GPC stock opened at $146.97 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.78. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $151.57. The stock has a market capitalization of $20.45 billion, a P/E ratio of 25.30 and a beta of 0.74. The firm’s 50 day moving average is $133.03 and its 200 day moving average is $133.42.

Genuine Parts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Friday, December 5th were given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, December 5th. Genuine Parts’s dividend payout ratio (DPR) is presently 70.91%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GPC shares. The Goldman Sachs Group upgraded Genuine Parts from a “sell” rating to a “neutral” rating and boosted their target price for the company from $130.00 to $142.00 in a research note on Thursday, November 13th. Evercore ISI set a $175.00 target price on Genuine Parts in a research note on Wednesday. UBS Group reissued a “neutral” rating on shares of Genuine Parts in a report on Wednesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genuine Parts in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. raised their price target on Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $154.14.

About Genuine Parts

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.