McKinley Carter Wealth Services Inc. Trims Stake in Genuine Parts (NYSE:GPC)

McKinley Carter Wealth Services Inc. trimmed its holdings in shares of Genuine Parts (NYSE:GPC) by 10.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,707 shares of the specialty retailer’s stock after selling 1,063 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in Genuine Parts were worth $1,017,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GPC. Metis Global Partners LLC raised its position in Genuine Parts by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 4,477 shares of the specialty retailer’s stock valued at $625,000 after purchasing an additional 85 shares during the last quarter. Guardian Wealth Advisors LLC raised its position in Genuine Parts by 2.7% during the 3rd quarter. Guardian Wealth Advisors LLC now owns 3,464 shares of the specialty retailer’s stock valued at $484,000 after purchasing an additional 91 shares during the last quarter. Marco Investment Management LLC raised its position in Genuine Parts by 1.2% during the 3rd quarter. Marco Investment Management LLC now owns 7,904 shares of the specialty retailer’s stock valued at $1,104,000 after purchasing an additional 91 shares during the last quarter. First Citizens Bank & Trust Co. grew its holdings in shares of Genuine Parts by 5.9% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 1,711 shares of the specialty retailer’s stock worth $239,000 after acquiring an additional 95 shares during the period. Finally, Citizens Financial Group Inc. RI grew its holdings in shares of Genuine Parts by 2.8% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,788 shares of the specialty retailer’s stock worth $533,000 after acquiring an additional 103 shares during the period. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Loop Capital assumed coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 target price for the company. Redburn Atlantic upgraded Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Wedbush reduced their price objective 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. Truist Financial reduced their price objective on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Finally, UBS Group reduced their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $141.50.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of the firm’s 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. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.37% of the company’s stock.

Genuine Parts Stock Down 0.7 %

Genuine Parts stock opened at $116.51 on Thursday. The firm has a market cap of $16.20 billion, a price-to-earnings ratio of 14.99 and a beta of 0.95. The stock has a fifty day simple moving average of $119.97 and a two-hundred day simple moving average of $129.52. Genuine Parts has a 12 month low of $112.74 and a 12 month high of $164.45. 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 Announces Dividend

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

Genuine Parts Company 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.