28,755 Shares in Genuine Parts (NYSE:GPC) Purchased by Stoneridge Investment Partners LLC

Stoneridge Investment Partners LLC bought a new position in shares of Genuine Parts (NYSE:GPC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 28,755 shares of the specialty retailer’s stock, valued at approximately $3,357,000. Genuine Parts makes up 1.2% of Stoneridge Investment Partners LLC’s holdings, making the stock its 27th biggest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Empowered Funds LLC grew its position in Genuine Parts by 28.0% during the fourth quarter. Empowered Funds LLC now owns 33,253 shares of the specialty retailer’s stock worth $3,883,000 after buying an additional 7,276 shares in the last quarter. Kingsview Wealth Management LLC grew its position in Genuine Parts by 2,134.9% during the fourth quarter. Kingsview Wealth Management LLC now owns 81,752 shares of the specialty retailer’s stock worth $9,545,000 after buying an additional 78,094 shares in the last quarter. Apollon Wealth Management LLC grew its position in Genuine Parts by 6.6% during the fourth quarter. Apollon Wealth Management LLC now owns 3,921 shares of the specialty retailer’s stock worth $458,000 after buying an additional 242 shares in the last quarter. Vest Financial LLC grew its position in Genuine Parts by 40.3% during the fourth quarter. Vest Financial LLC now owns 501,802 shares of the specialty retailer’s stock worth $58,590,000 after buying an additional 144,091 shares in the last quarter. Finally, Conning Inc. lifted its stake in Genuine Parts by 10.4% during the fourth quarter. Conning Inc. now owns 288,349 shares of the specialty retailer’s stock worth $33,668,000 after purchasing an additional 27,046 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GPC shares. Wedbush dropped their price target 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. Redburn Atlantic raised Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Evercore ISI lifted their price target on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Finally, UBS Group dropped their price target on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note 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 given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $141.50.

Genuine Parts Trading Down 0.2 %

NYSE GPC opened at $117.77 on Friday. Genuine Parts has a 1-year low of $112.74 and a 1-year 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. The stock has a 50-day moving average of $118.70 and a 200-day moving average of $128.41. The firm has a market cap of $16.37 billion, a PE ratio of 15.16 and a beta of 0.94.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s payout ratio is 51.48%.

Insider Buying and Selling at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.37% of the stock is currently owned by corporate insiders.

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.